The Union Budget announced on Thursday is expected to develop industrial activity, according to the trade and industry here.
President of Indian Chamber of Commerce and Industry, Coimbatore, R.R. Balasundharam has said in a press release that the budget has reforms to encourage and boost the manufacturing industry. Allocation for smart cities, promoting good governance, schemes for urban development, schemes for the agricultural sector, and Rs. 37,880 crore allocation for road projects were all welcome measures.
There are several initiatives indicating that the government is keen to encourage entrepreneurship, which is an engine for growth and job creation. The budget emphasises on the need to make available capital for start-ups, he said.
Power loom weavers in Coimbatore district feel that the proposals to boost solar energy might benefit the units.
According to the Texpreneurs Forum, inclusion of Tamil Nadu in the mega cluster project is a welcome measure. Announcement of setting up Rs. 10,000 crore fund to boost capital flow to start-ups will give a boost to SMEs in Coimbatore, and Tirupur.
