The Latest Andhra Pradesh Government’s Budget Gets Less Excitement from the State MSMEs

The Latest Andhra Pradesh Government’s Budget Gets Less Excitement from the State MSMEs

The Andhra Pradesh State Government introduced its budget, which mainly illustrates a proposal of allocating Rs 200 Crores for the Micro, Small and Medium Enterprises (MSMEs). As a response to this, the MSME entrepreneurs have not expressed their delight with this policy instead they have expressed their disappointment from the state government policymakers.

However, the leading industry body demanded as a pre-budget memorandum, And in the wishlist, the industry association have emphasized on increasing the budget allocation to facilitate subsidies for the MSMEs.

“We expected the government to increase the allocation in order to ensure general subsidies including capital and power, but it is not much for the MSMEs,” says Mr Anil Reddy Vennam, President of The Federation of Telangana and Andhra Pradesh Chambers of Commerce and Industry.

Moreover, experts also indicated that from an initial assessment of the proposed state budget, it seems that it is formulated keeping in mind the upcoming state polls and the MSME sector seems to have less excitement from this announcement.

“While on one hand, the government is looking keen to attract investments and signing MoUs with corporates, on the other hand, the sector is being neglected, which is not in the best interest of the state’s economy”, he added.

The total budget proposed by the government stands at Rs 1,91,070 crores.

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