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Hyderabad Feb. 20 The Confederation of Indian Industry has welcomed Andhra Pradesh Government's efforts in reducing revenue and fiscal deficits progressively.

Commenting on the State's Budget, which was presented on Monday, Mr G. Vivekanand, Chairman of CII (AP), said revenue deficit, which was at Rs 36.48 crore for 2007-08 as against Rs 64 crore in 2005-06 was welcome. "This (revenue deficit) is just 0.01 per cent of State's Gross Domestic Product. Fiscal deficit has been pegged at Rs 8,620.64 crore for 2007-08, constituting 3 per cent of GSDP," he said.

He also commended increased allotments to education and health sectors.

In a separate press release, the Andhra Pradesh chapter of Federation of Indian Chambers of Commerce and Industry appreciated the increased allocations for irrigation, housing to the poor, education, health and infrastructure.

The AP Small Scale Sick Industries Revival and Rehabilitation Scheme will help the SSI and manufacturing sectors, it added.

More Stories on : Budget | Andhra Pradesh | Industry Associations

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