The V.O. Chidambaranar Port at Tuticorin is poised for further growth with the allocation of Rs. 11,635 crore for the first phase of the Outer Harbour Project in the Union budget.
Port Trust Chairman S. Ananda Chandra Bose said the announcement would help in the development of the region. A detailed project report had already been submitted. The project would facilitate the establishment of power stations in Tuticorin and boost activities on the Tuticorin-Madurai industrial corridor.
The UPA government had earmarked Rs.7,500 crore for the project.
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The match industry in Virudhunagar welcomed the classification of match units that use power for frame-filling or dipping of splints as “semi-mechanised,” as they will attract a reduced excise duty of 6 per cent from 10 per cent.
However, trade and industry associations of southern districts expressed concern at the absence of any major announcement for the region. Promotion of a big-ticket, labour-intensive industry on the Madurai-Tuticorin corridor is a much awaited one, since agriculture had become unviable because of the monsoon failure and the Mullaperiyar dam row, they said.
Tamil Nadu Chamber of Commerce and Industry president N. Jagadeesan welcomed Union Finance Minister Arun Jaitley’s optimism that a solution to approving the legislative scheme for introducing the GST would be found during this year.
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Agrofood (India) Chamber of Commerce and Industry president S. Rethinavelu welcomed the farm loan target of Rs. 8 lakh crore and a rebate of 3 per cent for prompt repayment.
Madurai District Tiny and Small Scale Industries Association president V.S. Manimaran said the budget would boost the prospects of the small-scale industry.
S. Sampath, joint secretary of the Tamil Nadu State Transport Corporation Employees’ Association, criticised the budget, saying it was nothing but “thanksgiving to those who had helped the BJP win the elections.”
Arulprakasam, a progressive farmer, said the reintroduction of the Kissan Vikas Patra would encourage savings.