Trade and industry representatives in Mangalore said the Budget has got nothing noticeable for the region’s industry. Industry will continue to ask the government what it has been demanding in the past.
Mohammed Ameen, president, Kanara Chamber of Commerce and Industry (KCCI), said, “There are no surprises or pleasing factors.” The VAT remains the same and the Budget, fortunately, mentioned no major tax proposals. However, the allocation for industry is meagre considering the large chunks that Bangalore’s Metro and Outer Ring Road development will take away. Elections could be the reason for the balanced approach. The Chief Minister has said he will approach the Centre on Coastal Regulation Zone (CRZ) rules. If there is a change in that, it will be a wonderful boost to tourism. Mr. Ameen said, “There is nothing much to comment on. It leaves us asking again.”
B.A. Nazeer, president, Canara Plastic Manufacturers & Traders Association, called the budget “average” for the small-scale industry. Last year’s budget also said it would roll back VAT rates to pre-August 2012 level but it was not implemented.
Keywords: Karnataka budget