Vijayawada: The Confederation of Indian Industry (CII), Andhra Pradesh chapter, has expressed its approval of the interim budget unveiled by Union Finance Minister Nirmala Sitharaman on Thursday.
Dr. M Lakshmi Prasad, Chairman of CII, AP, praised the interim budget for its focus on inclusive and sustainable growth, coupled with efficient governance. He highlighted India’s commendable position amidst a global economic slowdown, attributing it to the country’s strategic approach.
Dr. Prasad welcomed the introduction of the blue economy scheme, emphasizing its potential for enhancing India’s fisheries industry through restoration, adaptation measures, and the integrated development of coastal aquaculture and mariculture. He noted that such initiatives could significantly increase aquaculture productivity, providing approximately 5.5 million employment opportunities.
Chairman of CII Vijayawada, Dr. A Venkataramana, commended the budgetary measures aimed at achieving ‘net-zero’ emissions by 2070, particularly the proposal for viability gap funding to harness offshore wind energy. He also applauded the government’s efforts to bolster the e-vehicle ecosystem through support for manufacturing and charging infrastructure.
Potluri Bhaskara Rao, President of Andhra Pradesh Chambers of Commerce and Industry Federation (AP Chambers), along with General Secretary B Raja Sekhar, acknowledged the interim budget’s focus on key sectors such as agriculture, youth, and women empowerment. They noted the government’s commitment to the development of these sectors, as outlined by Finance Minister Sitharaman.
In the interim budget, Sitharaman allocated Rs 2,352 crore for the “Blue Revolution,” aimed at doubling farmers’ income through fisheries development, management, and promotion—an increase from the previous year’s allocation of Rs 1,500 crore.
Sitharaman highlighted the government’s efforts in the fisheries sector, including the establishment of a dedicated department, which contributed to doubling both inland and aquaculture production. She also emphasized the doubling of seafood exports since 2013-14 and announced the expansion of the Pradhan Mantri Matsya Sampada Yojana (PMMSY).
The Matsya Sampada Yojana aims to revolutionize the fisheries sector by promoting sustainable development, thereby increasing aquaculture productivity and facilitating the achievement of the export target of Rs 1 lakh crore, which is expected to create 5.5 million employment opportunities, Sitharaman added.
