The Kerala State Small Scale Industries Association (KSSIA) has welcomed the budget for its general tone.
However, the ₹144 crore set aside for the small industries sector is not sufficient to meet its requirements, it said and reiterated the demand for a package for the SME sector as it was reeling under a period of recession.
Association president M. Khalid and general secretary M. Nizarudheen said the emphasis on boosting agriculture-based industries was a welcome step.
KSSIA also suggested that local self-government bodies provide better impetus to entrepreneurship, which will help more young people emerge as entrepreneurs and change the face of rural areas.
Industrialists welcomed the budget granting more time for settling VAT dues. The extension of time for VAT amnesty beneficiaries and for revision of VAT returns under the amnesty scheme till December 31, 2020 is a welcome step, they said.
Industrialists congratulated the Finance Minister for accepting the suggestion that the State implement a scheme on the lines of the Union Government’s ‘sub ka viswas’ initiative. It was on those lines that the budget made a provision for those in dispute over VAT arrears to pay only 50% of their dues.
Subsidy
KSSIA also felt that the budget would help the now idling or even dying coconut-based industries in the State. Providing a subsidy of 25% for those entering coconut oil business is a step in the right direction, the association said.
