The YSRCP government presented its maiden budget on the 12th of July in Vijayawada wherein farmer welfare and agriculture sector got a whopping Rs 28,866 crores of allocation. Most of the allocations were geared towards the nine promises (Navaratnalu) the CM, Mr Jagan Mohan reddy had made during his famous padaytara.
From Rs 8750 crores for RythuBharosa(an investment support scheme for farmers) to Rs 4525 crores for supplying of free power to farmers to Rs 3000 crores for instituting a crop price stabilizing fund the budget made sure the farm and allied sector was comprehensively covered.
Presenting the budget AP’s finance minister Mr BugganaRajendranath Reddy recalled the words of Mahatma Gandhi “Every poor man in thiscountry should understand that there is a role even for him in building this nation.” He went onto state that his government has a strong commitment to the welfare of the people and to fulfill the promises made the CM to the people.
‘Being an agrarian state, farmers must have the confidence that the government is standing behind them’ said the Finance minister.
For the industry though there was little cheer with no major allocation for it apart from certain incentives and industrial promotions for MSMEs.
The finance minister informed that his government will simplify unnecessary regulations and processes, for all industries, with special emphasis on MSMEs. The Government is also planning to provide necessary facilitation for setting up new units as well as assistance to revive stressed units said Mr Buggana. Rupees five hundred crores was allocated to the development of the capital city of Amaravati while for the Kadapa steel plant an initial amount of Rs 250 crores was allocated.
On the jobs front he said that the government is committed to achieving Special Category Status, mainly for the purpose of job creation through special industrial incentives. ‘The Government is in the process of enacting a bill to provide 75 % reservation to local youth in the industries which avail incentives’ said the finance minister.