Budget takes balanced approach to welfare, development: CII-AP

The Confederation of Indian Industry (CII-Andhra Pradesh) praised the Budget presented by Minister for Finance Payyavula Keshav in the Assembly on Saturday (February 14), saying that it took a balanced approach to fulfilling welfare commitments and long-term development priorities.

CII-A.P. chairperson Murali Krishna Gannamani said in a press release that the Budget created a positive ecosystem for industry through infrastructure development and by strengthening logistics and planning regional economic clusters.

He expressed confidence that the allocation of ₹28,000 crore for Visakhapatnam Economic Region would transform north Andhra into a major industrial, IT, maritime and services growth hub.

Vice-chairperson S. Narendra Kumar said the Budget attempted to strike a balance between the development of Amaravati and large-scale welfare spending, positioning both as parallel growth drivers for the State. Capital expenditure was being used as an investment multiplier to attract private investment, services sector growth and employment generation, he noted. 

CII-Vijayawada chairperson V. Nagalakshmi hailed the allocation of ₹19,306 crore for the health sector and observed that healthcare should be a major component of the State’s welfare and human development strategy.

CII-AP former chairperson D. Ramakrishna said school education getting a major chunk of the budget (₹32,308 crore) reflected the government’s intent on strengthening the human capital. The substantial allocations for scholarships and skill development were a step in the right direction, he said.

M. Lakshmi Prasad, former chairperson of CII-A.P., said the Budget has linked agricultural growth directly with rural prosperity and economic stability, and the provision of ₹20,000 each in annual assistance to 46.86 lakh farmers would strengthen farm income security, thereby help reduce farmer distress.