Chambers urges Center to deliver on APRA promises, pushes for inclusive growth – The New Indian Express

Through Express press service

VIJAYAWADA: Commending the Center for presenting a visionary and reform-oriented budget, keeping in mind the long-term economic growth of the country, members of the Federation of Chambers of Commerce and Industry of Andhra Pradesh (AP Chambers) said on Sunday that the focus should be on improving infrastructure in lagging regions, with particular focus on states, which lack industrial progress like Andhra Pradesh, so that growth balance can be achieved. “Due to injustice, Andhra Pradesh continues to remain an industrially backward state in South India,” the members said.

AP Chambers Chairman Pydah Krishna Prasad made representation to Union Minister of State for Finance Dr. Bhagwat Krishnarao Karad on Sunday during the latter’s meeting with industry representatives in Vijayawada .

Speaking on the occasion, he said, under the PA Reorganization Act 2014, the Center released an annual grant of Rs 350 crore for seven backward districts in the state . For the past two years, the grant has not been released and no allocation has been made for this purpose in the Union Budget 2022-23.

Extension of the ECLGS (Emergency Credit Line Guarantee Scheme) until March 2023 and extension of guarantee coverage of Rs 50,000 crore, overhaul of the Credit Guarantee Trust for Micro and Small Enterprises (CGTMSE), extension of the concessional tax scheme for new businesses, expansion of national highways by 25,000 km, 100 freight terminals and multimodal logistics parks were all major initiatives announced in the 2022-23 Union budget, which can boost economic recovery, members said. .

Other issues raised by AP Chambers

Logistics

At least 10 freight terminals and a multimodal logistics park for the state

Polavaram Project

High priority should be given to the project. Funding for the project should be direct instead of going through NABARD in order to complete it by 2023

National roads

Timely budget allocations to NH 16 announced for AP in 2020. Upgrading of 10 national highways to NH as promised in 2021 and completion of Anantapur-Amaravati highway

Textile parks

Allocation of a mega textile park to the State to increase job creation in the sector

Others

MedTech Zone in Krishnapatnam, 40 new Vande Bharat trains for AP, fund allocation for metro projects in Vijayawada and Vizag and Bhogapuram International Airport, Kadapa Steel Plant

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