FTCCI president lauds budgetary allocation

7 February 2023

Hyderabad: FTCCI president Anil Agarwal on Monday lauded the Telangana government for making substantial allocations for crucial sectors like health, education and power in the State Budget.

"We were happy to note that the budget has made substantial allocations for health (4.18 per cent), education (6.5 per cent) and power (4.3 per cent) though the support from Union Budget is negligible. We commend the efforts of the government for giving priority to the development of health and education infrastructure and also for making Telangana a power surplus state," Agarwal said in a statement.

"It is very heartening that the state registered a higher GSDP and agriculture sector growth rates at 13.2 per cent and 7.4 per cent  respectively than India’s growth rates. Because of the consistent high performance of the state, Telangana’s share in the country’s GDP grew to 4.89 per cent in 2020-21 from 4.1 per cent in 2014-15," he added.

Agarwal said the industrial and IT sector in Telangana was able to attract substantial investments from all over the world and the state has became a most favoured destination for investors. “We acknowledge the efforts of the government in achieving top rank in ease of doing business,” he said.

Agarwal sought draw the government's attention to the pain point of  industry, particularly the manufacturing sector:  the non-disbursement of sanctioned subsidies.

 "In the 2022-23 budget, 2,503 crore was allotted towards the IPP budget, but so far only 32.7 crore was released, and scores of units eagerly waiting for release," he stated.

Latest News
Most Popular