Hyderabad, March 11 (KNN) For the first time, the Andhra Pradesh Finance Minister Yanamala Ramakrishnudu presented e- budget on Thursday with budgetary proposals supplied to the state legislators in tablet computers.

Tablet PCs loaded with the Budget proposals, the Socio-Economic Survey 2015-16, and other related documents were given to the legislators while journalists got all that on an 8-GB pen drive. 

In his Budget speech the minister said that this is a genuinely outcome-focused Budget with unwavering focus on performance and outcomes rather than the traditional input-based Budget. It is also a demand-driven Budget based on the needs of the grassroots and expectations of the people.

“We have obtained inputs from the public and incorporated them suitable,” the Minister said.

Describing industrial growth as the “real game-changer when it comes to job creation for the future,” he said the State government has formulated highly competitive sectoral policies, including for MSME and on automobile and components, aerospace and defence manufacturing besides textile and apparel. Measures it initiated have reduced the approval time for industrial projects from an average of 90 days in 2014-15 to 21 days in 2015-16.

“We intend to bring it down to 14 days in 2016-17,” he emphasized.

However, the Federation of Telangan and Andhra Pradesh Chambers of Commerce & Industry (FTAPCCI) said in its press note, “It is disappointing to note that the allocations to Energy and Irrigation sectors have come down compared to 2015-16 which are crucial for rural development and also industrial development.”

The Andhra Pradesh Government has presented its budget for 2016-17 with a total outlay of Rs. 1, 35,689 crore. The notable features are that government has restricted the fiscal deficit at 2.99% of GSDP inspite of the ambitious plan to develop the capital city and industrial corridors.

President of FTAPCCI, Anil Reddy Vennam, said that the revenue receipts from taxes on commodities are expected to increase from  Rs 39815 crore in 2015-16 to Rs 45,962 crore for the year 2016-17 (by Rs 6147 crore) where as it increased by only Rs 948 crore for 2014-15 to 2015-16.

“This may be indicating the increase in tax rates on commodities to achieve such huge jump in revenue receipts. Also this may increase the deficit in the budget if the revenue receipts are not realized which affects the development activities,” he said.

There is a substantial increase in the allocation for industry and commerce from 289.70 crore to Rs. 975.77 crore and welcoming the allocation.

The President urged that the government need to disburse the incentives, subsidies to industrial units without delay.

Focus on rural development is synchronization with union budget will give positive results and provide more employment opportunities, he said.  (KNN Bureau)