The Confederation of Indian Industry, Andhra Pradesh, today said the budget proposals for 2013-14 will revive the growth of rural economy.
Ashok Reddy, chairman, CII Andhra Pradesh, said the measures announced in the Budget will find the means to accelerate growth.
The Plan expenditure estimated at Rs 59,422 crore, which is a 10 per cent increase over the last year, is a welcome step. However, he felt increase in non–Plan expenditure continues to be a concern for industry.
The measures announced for generating 2,200 MW additional power in the coming year will certainly reduce the power cuts for industry, he felt.
The government’s move to encourage solar pump sets for agriculture purpose will reduce the dependence of farmers on grid power, he added.
The allocations made to infrastructure and roads development will help revive the growth in the economy. The Chamber welcomed the separate statement on the agriculture sub-plan.
FAPCCI reaction
The Federation of Andhra Pradesh Chamber of Commerce and Industries has said the budget falls short of expectations of the industry and commerce.
For the power sector, the allocation in the budget is very low. The entire subsidy of subsidised power is estimated to be about Rs 14,000 crore but the allocation is barely half of it in the budget.