Trade, industry bodies differ on benefits for Telangana

Experts term it non event for stock market, pharma industry bemoans lack of incentives for R&D work

The Confederation of Indian Industry, Telangana and the Federation of Telangana Chambers of Commerce and Industry have welcomed the Union Budget, for its overarching objective of laying foundation of the country for the future, but differed on what the proposals meant for Telangana.

“This budget is a blueprint for India @100 and has taken first step towards achieving the vision,” FTCCI president K.Bhasker Reddy said in a media interaction.

Hailing the proposals, including focus on infrastructure development through PM Gati Shakti, extension of ECLGS for MSMEs with an additional ₹50,000 crore and emphasis on assisting the hospitality sector that weighed under the pandemic will help the enterprises. Introduction of PLI scheme for the solar sector will strengthen domestic manufacturing of solar modules and “we expect the government to extend the scheme to all other sectors. Creation of unified logistics platform and developments of 100 new cargo terminals in the next three years are significant steps in improving the supply chain eco system in the country,” he said.