The Karnataka Small Scale Industries Association (KASSIA) has welcomed the Union Budget 2020, while cautioning that everything hinges on the implementation as Budget measures need to be effectively followed and executed in a federal set-up.
R. Raju, president, KASSIA, welcomed proposals such as simplifying GST filing of returns and the measures to help rural economy by directing investments to agriculture and related areas.
However, on a cautionary note, the KASSIA said: “One gets an uncomfortable feeling that the Budget has tried to address a number of issues and may have unwittingly missed the wood for the trees. The problems facing the Indian economy now require measures to put back on track growth in investment and consumption, which seem to be missing. We believe this is the central issue for the economy to help employment and income.”
KASSIA has also said that the general measures proposed to revive the economy, such as creation of the investment clearance cell, higher insurance cover for exports, reversion of duties and taxes on export products along with the special focus on electronic and semi conductor equipment manufacturing value chains, would provide the necessary stimulus needed to revive the economic growth in the country.
