Incentives for first-generation entrepreneurs through exclusive land bank draw encomiums
The Tiruchi District Tiny and Small Scale Industries Association (TIDITSSIA) has hailed the State government for floating an exclusive Tamil Nadu Infrastructure Development Board for providing thrust to infrastructure sector. With the Chief Minister heading the Board, it would pave way for development in key sectors.
S.Sridharan, president of TIDITTSIA, reacting to the State Budget, has welcomed the special incentives for first-generation entrepreneurs in the form of funds and lands through exclusive land bank. The State is poised for high industrial growth, he reckoned.
The burden of tax is not significant in the budget, he said adding that concessions for the Compact fluorescent light (CFL) bulb making units, match industry and sanitary napkins would benefit small, micro and medium industries.
Welcoming the various features of the budget, Ve. Govindarajulu, State secretary of the Tamil Nadu Traders' Federation, said that the provisions aimed at long-term strategy. The exemption of VAT on products like feeding bottles, insulin, wheat, oats manually made locks and helmets would benefit a large section of people. Reduction of VAT for matchsticks made within the State would help industries face competition, he added.
J. J. L.Gnanaraj, president of the Tamil Nadu Chamber of Commerce, said that the budget has various welcome features and there is no major disappointment.
The budget looks well-designed with a revenue surplus and fiscal deficit well within the limit, says, S.Pushpavanam, secretary of the Consumer Protection Council – Tamil Nadu.
He said that private sector placement assistance cell in all 32 districts will be of great help to the job-seekers. Laptop and printer to village administrative officers would help in creating accurate unalterable records and would thus minimize litigation.
Road Safety fund of Rs.65 crore is badly needed but that should be spent by a Road Safety Council to be formed. Thrust given to agricultural production to 120 lakh metric tonnes is the right thing to do. Allocation of Rs.740 crore for 1,500 km for road laying shows the right priority.
State level Property Tax Board to review tax system is welcome.
Reduction of duty from 14.5% to 5% for Compact fluorescent lamps is appreciable. Replacing incandescent bulbs in huts with CF lamps is a good idea. It saves 45 megawatt of power.
Sweet news for diabetes is that insulin is fully exempted from VAT. Helmet is to cost less because of reduction VAT. This is the first time that the state revenue (projected) has crossed the 1 lakh crore mark, Prof. Pushpavanam says.
The South Indian Consumer Protection Association has welcomed the announcement on distribution of one lakh house site pattas to the people belonging to weaker sections. In a statement, Uma Muthuswamy, general secretary of the Association, welcomed the allocation of Rs. 3,800 crore for the agriculture sector, said to be the highest ever in the state budget and also the announcement on annadhanam from 8 a.m. to 10 p.m. at Srirangam Sri Ranganatharswami Temple.
The Tiruchi Nala Amaippugal and Managara Valarchi Arvalargal commended the state government for presenting a bold and growth oriented budget.