Tamil Nadu

Growth-oriented budget, say Medium and Small Scale Industries

Medium and Small Scale Industries have termed the Tamil Nadu Budget for 2010-2011 as ‘growth oriented and supporting' one, while various Chambers of Commerce in the city thanked Finance Minister K. Anbazhagan for presenting a tax-free budget.

Tamil Nadu Small and Tiny Industries Association (TANSTIA) requested the State Government to allocate funds for upgrading SIDCO industrial estates and implementing Industrial Township Area Development Authority Act, 1997, immediately for development of industrial estates.

Southern India Chamber of Commerce and Industry president A. Velayan commended the State government for not burdening the industry with new taxes. Grant of exemptions to various commodities and products would benefit fishermen, weavers, kirana merchants and farmers.

In a press release, Hindustan Chamber of Commerce president Shabbir Abdulhussain said the allocation of Rs.98 crore to the MSME sector for implementation of various schemes and concessions was a positive sign. Besides, the fiscal deficit has been narrowed down gradually.

“The proposed reintroduction of tax settlement scheme will enable the State to recover the pending tax arrears. Proposal for fine tuning and simplification of VAT procedures will improve the tax compliance. The non-increase in composition of tax limit will be a disappointment to the small traders,” said Andhra Chamber of Commerce president V. Upendran.

Tamil Chamber of Commerce said that allocation of funds for strengthening urban infrastructure facilities will lead to industrial growth and pave way for smooth cargo transportation. The dredging and desilting of river and lakes will improve the irrigational facilities that in turn will help agriculture.

The government's move to replace temporary huts with permanent concrete houses will improve the standards of living of common man, said National Chamber of Commerce president Syed Muneer Ahmed.

Tamil Nadu Government Employees Union State Centre termed the budget as a disappointing one and urged the Chief Minister to release the one man commission report immediately and to have discussions with the Employees Union to fulfil their demands.

Representatives of traders, teachers and employees association also welcomed the budget.

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Printable version | May 25, 2020 8:18:45 AM | https://www.thehindu.com/news/national/tamil-nadu/Growth-oriented-budget-say-Medium-and-Small-Scale-Industries/article16578444.ece

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