Hyderabad, The corporate sector in Andhra Pradesh and Telangana on Thursday welcomed the Union Budget but expressed disappointment over lack of clarity on specific issues like special status for Andhra Pradesh and Telangana as well as fund allocation for a new capital of the residual state.

There are no specifics on that. The Finance Minister has said that whatever has been promised in the (AP Reorganisation) Bill will be given. But it has not given any specifics.

May be they will come out in the fine print, CII Andhra Pradesh/Telangana Chapter chairman Suresh Rayudu Chitturi said. We being from the state and looking forward to those things. Not having that was a little disappointment.

But this is India budget, not AP or Telangana budget, he said. Federation of Andhra Pradesh Chambers of Commerce and Industry president Shiv Kumar Rungta said though the Finance Minister reiterated that they would keep up all promises made in the AP State Reorganisation Bill, no specifics were spelt out in the Budget, which is disappointing.

We were all expecting details about the promises they made during the state bifurcation. There are no details except the minister's statement that they would honour all promises made. It is a sort of disappointment, Rungta said.

He said on a scale of 1 to 10, he would give 7 marks to the Budget. Rashtriya Ispat Nigam Limited CMD P Madhusudan said it is a balanced budget with thrust on fiscal consolidation, infrastructure development and new investment.

Measures announced to facilitate trade also would improve the investment climate. With new measures for infrastructure growth, there will be a positive impact on steel consumption growth, Madhusudan said.

Union Finance Minister Arun Jaitley announced a medical institution like the AIIMS, an IIT and an agriculture university for Andhra Pradesh (rpt) Andhra Pradesh and a horticulture university for Telangana.

BITS Pilani Hyderabad Director VBS Rao said it would take anywhere between five to eight years for an institution such as an IIT to come up and it would require an investment of upto Rs 1,500 crore.

However, he said that the institute could start admissions in some disciplines within two years with some infrastructure in place.