Andhra Pradesh Chief Minister N Chandrababu Naidu said the union budget will steer the nation in the right fiscal direction.

In his reaction to the budget presented in Parliament by Finance Minister Arun Jaitley, Naidu said growth-specific spending will boost infra and employment generation.

Naidu, whose Telugu Desam Party (TDP) is a constituent of the BJP-led NDA government at the centre, said that the budget had many proposals which will yield the results in long term.

He thanked Jaitley for giving capital gain tax exemption to farmers who have pooled their lands towards construction of state capital Amaravati.

The Chief Minister said the state was still waiting for statutory status to special package announced by the Centre last year. He reiterated the demand that Visakhapatnam should be made a railway zone.

Naidu welcomed the sharp cut in anonymous cash donation to political parties and remarked that some parties exist only for donations.

The TDP chief backed the idea of simultaneous polls to Lok Sabha and Assemblies mooted by President Pranab Mukherjee during his address to joint session of Parliament on Tuesday.

Naidu said simultaneous polls should be held for all bodies from panchayat to Parliament.