Karnataka

Union Budget receives mixed reactions in North Karnataka, KK

The Union Budget has received mixed reactions in North Karnataka and Kalyana Karnataka. Union Minister for Parliamentary Affairs Pralhad Joshi has said that the budget encouraged industry and industrialists and priority had been given to promote women entrepreneurs. He has said that the budget would boost the country’s economy as it had schemes for both the industry and also agriculture, the backbone of Indian economy.

The Karnatak Chamber of Commerce and Industry (KCCI) has said that the budget had given impetus to increasing farmers’ income and also encouraging industrial sector particularly manufacturing sector.

Chartered accountant N.A. Charantimath has said that the budget comprised innovative proposals, new schemes and steps for economic development and had rewarded the middle class tax payers and cooperative credit societies.

MLA for Hubballi-Dharwad East constituency Prasad Abbayya has termed the budget as the one having no fiscal discipline, which would ultimately further damage the economy. The CITU has termed the budget as big blow to the working class as it had not responded to the concerns of them . In a statement, the district committee of CITU has said that the union government had not taken into consideration the twelve point alternate programme to revive the Indian economy.

In Kalaburagi, The Hyderabad Karnataka Chamber of Commerce and Industry (HKCCI) termed it a mixture of hope and disappointment.

It welcomed certain important budgetary measures concerning the trade and industry but expressed disappointment for not considering its long-pending demand concerning the development of Kalyana Karnataka.

“We welcome the hike in the turnover threshold for the audit of MSMEs to ₹50 million. We welcome the proposal of the government to ask the RBI to mull extending MSME recast window by one more year. We also welcome the commitment of the government to double the farmers’ income by 2020-22,” Amarnath C. Patil and Shashikanth B. Patil, president and secretary of the HKCCI respectively, said in a release. “We expected announcement of the execution of already sanctioned Railway Division at Kalaburagi. We had high expectation of budget allocation for NIMZ at Kalaburagi. Our demand for central funding to KKRDB created under Article 371(J) of the Constitution has not been fulfilled,” they said.

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Printable version | Feb 17, 2020 2:01:32 AM | https://www.thehindu.com/news/national/karnataka/union-budget-receives-mixed-reactions-in-north-karnataka-kk/article30718190.ece

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