The Hindu Business Line : CII seeks other ways to fund power supply

THE Confederation of Indian Industry (CII-AP) has asked the State Government to work on an alternative method of funding power subsidy. Welcoming the focus on irrigation, agriculture and infrastructure development in the State's Budget for the year, Mr Ramesh Datla, Chairman of CII-AP, said the emphasis on developmental and infrastructural spending on one hand and development of human resources on the other was a good move.

He added that the proposed setting up of Agriculture Technology Mission with the focus on improving efficiency factors in farming through precision farming techniques to leverage IT to deliver real-time information and customised knowledge was a step in the right direction.

"It is encouraging to note that a lot of importance has been attached to small and medium industries, export-oriented industries and large industries. We welcome the proposal for setting up of industry rehabilitation board to tackle industrial sickness," Mr Datla said. Mr C. Parthasarathy, Chairman, Federation of Indian Chambers of Commerce and Industry (FICCI-AP), has asked the Government to constitute a high-powered committee comprising all leading entrepreneurs and top officials to suggest ways to attract investments and address various issues pertaining to the industry. He welcomed the decision to increase allotments to agriculture, irrigation, education, tourism and infrastructure development.

Mr D.A. Somayajulu, Advisor to State Government on Economic Affairs and Policy Implementation, said that the Budget was highly growth oriented and would take the State on to a higher growth trajectory.

He said the low GSDP (Gross State Domestic Product) growth rate during the last decade was largely due to dwindling public investment by the Government in vital sectors.

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