Reduction of IT slab rates welcomed: AP Finance Minister

The budget was prepared giving priority to seven sectors, but the issues related to the states were not mentioned, he stated.

Amaravati: Andhra Pradesh Finance Minister Buggana Rajendranath Reddy has welcomed the Centre’s decision to reduce income tax slab rates and expressed satisfaction over a few of the budgetary allocations in the union Budget 2023.

Speaking at a media conference on the union Budget after the union Finance Minister presented the Budget in a joint session of the Parliament on Wednesday, he said that while allocations for fertilizer, urea, rice, and wheat subsidy were decreased, allocations for agriculture and roads and railways were more. The budget was prepared giving priority to seven sectors, but the issues related to the states were not mentioned, he stated.

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“Our suggestions were considered in the pre-budget meetings held with the states. We want to implement a pump storage system. Andhra Pradesh is a role model in this field and they have announced a policy on this. In this budget, there are some decisions that are in accordance with the schemes implemented in our state. The construction of nursing colleges, skill development centers, airports, and ports are some of them. It is useful for the development of house construction and Ekalavya schools,” Rajendranath Reddy observed.