Industry bodies welcome Telangana's maiden budget, hope for resolution of power crisis

Hyderabad: Industry bodies on Wednesday welcomed Telangana government's maiden budget, terming it a balanced mix focussed on social and industrial development.

President, Hyderabad Software Enterprises Association (Hysea) Ramesh Loganathan said there is a good balance between broader social development and the investment/industrial enablement in the budget presented by Finance Minister Etela Rajendra in the State Assembly.

Read: Telangana government presents its maiden Budget, promises to make the state as ‘Seed Bowl of India’

He welcomed Finance Minister's proposal to link research institutes, academia and the industry in and around Hyderabad under the umbrella of 'Research and Innovation Circle of Hyderabad (RICH).

"The ITIR budget provision is very encouraging and a clear focus on future is very evident in many actions from the government. The focus on solving issues related to energy and power is also reassuring," Loganathan added.

It is good to see that the government has recognised the urgency to solve problems related to power, he said.

President, TiE Hyderabad (The Indus Entrepreneurs), Murali Bukkapatnam, who is also MD & CEO, Getdomestichelp.com said that the TRS government has tried to address the issue of power shortage in the state.

Investment in power sectors and recent MoU with Chhattisgarh Government with regard to power supply are likely to reduce the burden on government and the industry can expect lesser power cuts which will further impact their top lines, Bukkapatnam added.

Read: Telangana's maiden budget reflects aspirations of people: K Chandrasekhar Rao

Confederation of Indian Industry (CII), Telangana chapter in a statement said the budget has given a new direction about the government's priorities for accelerating economic development in the state.

The industry body, however, expressed concern over the increasing power deficit in the state. They suggested government take immediate measures to meet the increasing demand of power.