Kerala Chamber of Commerce and Industry has welcomed the Union Budget 2017-18.
Chairman of the chamber Raja Sethunath said in a statement here on Wednesday that Kerala would benefit from the budget emphasis on SMEs. He said there should be a sense of dedication to implement the provisions of the budget.
The budget could also help revive the real estate sector, which had hit hard by demonetisation of high-value currency notes. Increasing the lending capacity of banks would help trade substantially, he said.
‘Great thought’
Indian Chamber of Commerce and Industry president V. Ramalingam said it was a great thought from the government to support the farmers and the interests of the economically backward in the rural parts of the country in a massive way.
The proposal to provide electricity as well as Internet facilities all around the country would make the general public in those areas more informed.
Heavy investment in infrastructure development including improvising educational standards were great steps. It was a “revolutionary” decision to cap cash donations to political parties, he said.
‘Growth-oriented’
Southern regional chairman of the Federation of Indian Export Organizations A. Sakthivel said the Union Budget was growth oriented. He said in a statement that the budget focussed on government investment in infrastructure. He welcomed the Trade Infrastructure Export Scheme, which would help Indian exporters to become globally competitive.
The focus on infrastructural development at farm-level, including sorting and washing, would help boost agro and processed food exports from the country, he said.
Responsible budget
Managing director of Federal Bank Shyam Srinivasan said the Union Budget was a “a very responsible budget, which has balanced the conflicting priorities of spawning growth, creating jobs, increasing capital investments and yet staying true to the fiscal discipline trajectory.”
