Union Budget is good & it is useful to everyone: Buggana Rajendranath Reddy

Vijayawada: Reacting on the Union Budget-2023, Finance Minister Buggana Rajendranath Reddy opined that it was a good budget which is beneficial to everyone.

Addressing a press conference at the R & B building here on Wednesday, he expressed his views on the Union Budget. Buggana stated, ''It is still is not clear about the State-related issues (allocations), which would be known subsequently."

He further said, "During the Pre-Budget meeting we gave some suggestions to the Centre. We sought viability gap funding for Urban Infrastructure Development Funds and increase in funds under PM Awas Yojana. Consequently, the Central government considered our advice and allocated funds."

The Minister further pointed out that the allocations for agriculture sector have decreased compared to infrastructure sectors such as rail and roads. Some allocations are satisfactory. Income tax slab rates have been relaxed. The allocation of funds for employment guarantee, Jal Jeevan Mission and procurement of rice and wheat has decreased.

Allocations increased for National Highways, railway lines, railway facilities and roads, he added. The Union Budget 2023-24 was prepared with a focus on seven important sectors namely 'Sapta Rushulu.'

Reacting on the State capital issue, he said that the word capital is not specifically mentioned anywhere in the Constitution and added that their policy and motto is to decentralise development. He reiterated that Chief Minister YS Jagan Mohan Reddy has already announced that Visakhapatnam is the capital.