Vijayawada: The Confederation of Indian Industry (CII) Andhra Pradesh and AP Chambers have warmly welcomed the Union Budget 2024-25 presented by Finance Minister Nirmala Sitharaman. CII AP Chairman V Murali Krishna described the budget as a significant stride towards the comprehensive development of Andhra Pradesh, emphasizing its alignment with the state's economic growth and infrastructure enhancement goals.
He highlighted the allocation of Rs 15,000 crore for the development of Amaravati, the capital city of AP, as a major highlight of the budget. Murali Krishna noted that this substantial financial assistance underscores the Centre's commitment to transforming Amaravati into a vibrant center of activity and growth.
Furthermore, he praised the Finance Minister's commitment to providing additional funds for Amaravati based on future needs. Murali Krishna emphasized that the Union Budget sets a visionary course for the holistic development of AP, with focused investments in industrial and infrastructural development that will pave the way for future growth.
AP Chambers President Potluri Bhasakara Rao also congratulated Nirmala Sitharaman for presenting the Union Budget for a record seventh time. He lauded the budget's focus on crucial areas such as agriculture, employment generation, skill development, infrastructure, education, and health. Rao highlighted the significance of the Rs 15,000 crore allocation for Amaravati's development and the measures announced for the early completion of the Polavaram Irrigation Project.
In addition, he underscored the budget's support for the MSME sector, which includes reintroduced schemes, increased Mudra loan limits, and enhanced credit guarantee schemes. Rao also welcomed the financial aid earmarked for the growth of eight backward districts in AP, including the newly added Prakasam district, as pivotal for regional development.
Overall, the responses from CII Andhra Pradesh and AP Chambers reflect optimism and appreciation for the Union Budget's provisions, seen as pivotal in driving economic growth and fostering development across Andhra Pradesh.