Telangana Inc welcomes Union Budget

Telangana Inc welcomes Union Budget

Hyderabad, Feb 1 (PTI) Confederation of Indian Industry (CII) Telangana chairman V Rajanna today said the Budgetary impetus to strengthening the agriculture and education sectors and expanding healthcare access may support the country in reaching the development goals very soon.

"As more than 50 per cent of the population still depends on agriculture for livelihood, any increase in farmers income would lead to overall economys growth," he said.

B.V.R. Mohan Reddy, Founder, Cyient, and former chairman, Nasscom said given the fiscal and political constraints with which the government is operating today, Finance Minister Arun Jaitley did his best.

"Personally, I am delighted to see the governments increased impetus on emerging technologies to help India turn into a digital society. The investments in research, training and skilling in AI, robotics, digital manufacturing, and IoT will pay rich dividends by creating new jobs and re-skilling the existing workforce," Reddy said.

Satish Reddy, Chairman, Dr. Reddys Laboratories, said the governments focus on rural development and agriculture is a welcome step.

He said the announcement of the "Aayushman Bharat" programme for healthcare is a gamechanger and the coverage of ten crore people under the National Health Protection Scheme (NHPS) is commendable.

"Overall, while the budget appears to be a progressive one, it was disappointing to note that the reduction in corporate tax was offered only to companies with a turnover under of Rs 250 crores," Saitish Reddy said.

M K Patodia, Chairman and Managing Director, GTN Industries, opined that the increase in budgetary allocation for the textiles sector at Rs 7,140 crore is a welcome step. PTI GDK NSK