FM did a good job

Hyderabad: “Fapcci finds it a quite balanced budget and Finance Minister has done a good job”, said Shiv Kumar Rungta, Fapcci president, on Thursday. He pointed out that the Budget had stressed the need to revive growth in manufacturing and infrastructure sectors in order to create more employment opportunities.

He appreciated the government for addressing various issues relating to the social sectors such as rural and urban housing, welfare of senior citizens.

The Fapcci president also lauded the extension of power holiday for power generators by a year, which will give an impetus to power generation across the country. Another important measure that encourages investors is the move to create entrepreneurship-friendly and stable environment, he added.

Setting up of AIIMS and IIM in Andhra Pradesh will go a long way in providing world class education in AP, he said. According to him, the announcement of the launch of a national multi-skill programme called Skill India will equip youth with employable skills besides inculcating entrepreneur skills. “It addresses the need to provide training and support for traditional professions like welders, carpenters, cobblers, masons, blacksmiths and weavers etc. he also mentioned about amendment in the Apprentice Act,” he added.

It is highly encouraging that government has taken initiative to create a conducive ecosystem for the venture capital in the MSME by proposing to establish a Rs 10,000 crore fund to act as a catalyst to attract private Capital by way of providing equity, quasi equity, soft loans and other risk capital for start-up companies.

“Blue Revolution which has been mentioned by the Finance minister will be a plus point for AP as it has got huge coast line. Revising Buckingham canal would be a cost effective pathway for transport of goods “said Bhalerao, Seceratary-General, Fapcci.