Naidu Hails "Well-Balanced" Budget, Sees Boost for Andhra's Economy

He said that the Budget 2026-27, presented by Union Finance Minister Nirmala Sitharaman in the Parliament, reflects the aspirations of people for a fast-growing economy.

Chandrababu Naidu, whose Telugu Desam Party (TDP) is a key partner in the BJP-led NDA government at the Centre, congratulated Prime Minister Narendra Modi and Finance Minister Sitharaman.

Addressing the media at Kuppam, he exuded confidence that the Budget will help India become a developed economy by 2047.

The TDP president believes that the Budget will help achieve the goal of self-reliance and strengthen MSMEs. He noted that women, farmer and youth have been given top priority in the Budget.

The Chief Minister hoped that the Budget would help the state government to move more aggressively on the issues it is focusing on.

"This budget will further support the Ease of Doing Business policy being implemented by the State. The state government has already focused heavily on MSMEs, and there is an opportunity to further strengthen them," he said.

Stating that the Budget provides direction and momentum, he hoped that it would give a necessary boost to various technologies, including AI, and the next level of reforms.

He also noted that the Budget focuses on renewable energy and a one-grid nation. "It has been designed in line with short, medium, and long-term goals. It will contribute to improved living standards and ease of living," said Chandrababu Naidu.

The Chief Minister said the state will benefit from the Hyderabad-Bengaluru and Hyderabad-Chennai high-speed rail corridors.

Tirupati and Amaravati will be covered by high-speed corridors.

The Bengaluru-Chennai high-speed rail corridor will cover areas like Palamaner, Chittoor, and others. These three high-speed rail corridors will cover various regions of Andhra Pradesh and connect cities like Hyderabad, Amaravati, Bengaluru, and Chennai.

He pointed out that Andhra Pradesh is also included in the dedicated rare earth corridors. This will provide an opportunity to extract highly valuable heavy minerals and utilise them for the manufacture of critical electronics.

He also noted Rs. 40,000 crore has been allocated for semiconductors through ISM 2.0. The textile sector has also been given a boost, and this aspect will greatly benefit Andhra Pradesh.

"Tourism and hospitality have also been given importance. This will contribute to the growth of tourism in places like Araku in our State," he said.

He believed that tax exemptions for data centres until 2047 would help make India a hub for data centres.

"Various data centres, including Google, are coming to Visakhapatnam. These data centres will be developed to support Artificial Intelligence and create large-scale job and employment opportunities," he said.

Stating that for the first time, the development of the logistics sector has been mentioned in the Union Budget, Andhra Pradesh is fully focused on this sector.

- IANS