Hyderabad, Feb. 21
The State unit of the Confederation of Indian Industry has welcomed the tax-free budget with an outlay of Rs 1,13,675 crore presented by the Chief Minister, Mr K. Rosaiah. Mr Y. Harish Chandra Prasad, Chairman, CII Andhra Pradesh, was especially positive on the proposed developmental initiatives through public private partnership mode, especially the large infrastructure projects. He pointed out that the budget estimates show a fiscal deficit of Rs 12,983 crore, which will be about Rs 1,300 crore less than the revised estimates for the 2009-10 fiscal, and a revenue surplus of Rs 3,548 crore, up from Rs 2,942 crore. Reacting to the Budget, the Federation of AP Chamber of Commerce and Industry (FAPCI) cautioned that the Government expenses are increasing and there is no control to rein in on the expenditure. It said in a note that though there is a recovery in the economy in the country, this recovery is quite fragile. “But the same is not the situation in the State, particularly against the background of drought, floods, and political disturbances in the state. This is clearly reflected in the decline of exports from the state, in the marginal growth (of 5 per cent) of the tax revenues of the State. This view is further strengthened by the fact that the food production in the State has fallen by 40 lakh tonnes, a short fall of 20 per cent,” it pointed out. – Our Bureau
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