Today’s budget presented by Sri Anam Ram Nsarayan Reddy, Finance Minister State, Government of AP falls short of expectations from the Industry and commerce. Industry expected a major push to the growth in the budget allocations, but the Government allotted just Rs. 250 cr in addition to previous year. There is a huge backlog of incentives to be paid. The provision is not sufficient to clear old dues. Further the CM’s announcement of VAT refund on diesel also needs to be covered in this. The provision made in budget is not sufficient.
As far as power sector is concerned, the allocations of budget very low. The entire subsidy subsidized power of 14000 cr needed to come out of the budget.