Chambers – The New Indian Express

Through Express press service

VIJAYAWADA: The Union Budget 2022-23 is a “reform-oriented” budget, promoting digitalization in India, the Federation of Andhra Pradesh Chambers of Commerce and Industry said on Tuesday. AP Chambers, however, felt that the budget was mixed for Andhra Pradesh.

“There is no mention of railway zone, industrial corridors and coastal economic zone as part of Sagarmala. There are no announcements to address state deficit funding, funding for Polavaram project, development of backward districts and no allocation for key state institutions,’ the chairman said. AP Chambers Pydah Krishna Prasad and President-elect Potluri Bhaskar Rao.

They however said that the positive development for Andhra Pradesh was the announcement of the Godavari-Krishna river link and the Krishna-Penna projects. “Another positive announcement for AP is the allocation of Rs 1 lakh crore to help states catalyze global investment in the economy. be used for productive capital investments related to PM Gati Shakti and others. But there was no clear mention of the amount allowed for each state,’ they said.

The Chambers also welcomed the extension of the Emergency Line of Credit Guarantee (ECLGS) scheme until March 2023, as it will support the growth of MSMEs. ‘ they said.

Another positive announcement was the additional allocation of Rs 19,500 crore for the Solar Generation Incentive Scheme (PLI), which could ultimately drive down solar energy costs. AP Chambers also welcomed the announcement of the issuance of electronic passports. “However, as far as AP is concerned, the budget is a little disappointing as it made no industry-specific announcements for the textiles, food processing, agriculture, automotive components, transportation and construction sectors. tourism,” they said. The government has also not announced any measures to stimulate consumption-based economic growth.

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