FTCCI Dubs Telangana Budget Welfare Oriented, Modest

The budget is giving us a mix scenario of the economic progress. The continuous economic slow-down has shown its impact on the Telangana budget by slashing the size by 20 percent. We welcome the prudent decision of the Chief Minister to cut down the budget size keeping in view the negative growth in the key sectors of the economy such as automobile, retail and others said Karunendra Jasti, President of the Federation of Telangana Chambers of Commerce & Industries.

The impending financial crises and worsening of industrial performance is reflected in the GST compensation received by the state. While the budget has taken care of the welfare schemes and irrigation projects, it is intimidating to note that Industries has received meager allocation for the year. In this times of economic slowdown the industry needs as much of support from the government as possible to sustain and survive. We are happy to note that the IT exports have recorded an impressive growth and reached 1.10 lakh crore. On the whole, the budget focused more on the welfare and public spending. There is considerable detailing given to the development and growth of the state.

Also Read: Telangana Budget 2019: Highlights From KCR Speech