Hailing the State Budget presented by Finance Minister T.M. Thomas Isaac in the Assembly on Friday, the Malabar Chamber of Commerce (MCC) has said that the proposals such as establishing a mobility hub for Kozhikode similar to the one at Vyttila in Kochi was a welcome step that would connect different regions in the city.
Similarly, the proposal to establish start-up incubators and earmarking funds for start-up projects would spur growth in the Information Technology and allied sectors. Such decisions would generate jobs for the youth, MCC president P.V. Nidish and secretary M. Nityanand Kamath said.
They also said that the Budget proposals aimed at bringing fiscal discipline and controlling fiscal deficit. The proposal to allocate ₹2,000 crore to meet eventualities like the recent cyclone Ockhi that ravaged the coastal areas of Kerala would help tackle natural calamities in future. The budgetary allocation of ₹1, 000 crore for coir mills was another ambitious proposal, they said.
However, they also said the Budget should have given a thought for taking up solar and nuclear power projects instead of thermal projects to reduce the energy deficit. Trade and industrial sectors would benefit out of the proposals of ₹1,450 crore allotted for roads and bridges, 42 rail overbridges and reconstruction of 155 bridges.
Mr. Kamath felt that the allocation of ₹82 crore for stimulating the tourism sector was a welcome decision. Though the Budget gave priority to the farming sector, Mr. Isaac should have also focussed on support prices to sustain the livelihood of farmers.
‘Disappointing’
However, Tax Payers Association president P.T. Unni said the Budget proposals for pensioners and welfare schemes were disappointing and the measures suggested for their implementation were unscientific.
The proposal to hike the land tax would not benefit the State government. Steps to revive the ailing State-owned Kerala State Road Transport Corporation would not have the desired affect. The government should privatise the corporation, Mr. Unni said.
Consumer Goods Distributors Association president C.E. Chakkunny, while welcoming the State Budget, said that the proposals had the foresight to encourage trade and commerce. However, the Budget failed to take up the issue of small traders who had been severely hit following the implementation of the Goods and Services Tax (GST) in the State.
