It’s progressive, will stimulate growth, say trade bodies

The Union Budget has evoked mixed response from various stakeholders in Mysuru.

Farmers have dubbed it disappointing and the salaried class are fuming as there is no change in the tax slabs.

However, the Federation of Karnataka Chamber of Commerce and Industry (FKCCI) and the Confederation of Indian Industry (CII), Mysuru chapter, have welcomed it.

The FKCCI has welcomed the budgetary emphasis on infrastructure development with regard to roads, airports etc.

Sudhakar Shetty, district convener, FKCCI, said that the budget has laid emphasis on infrastructure development. He also has welcomed the target of laying 100 km of new roads every day.

Referring to the development of 160 airports proposed, he suggested that the existing, but dormant airports like the one in Mysuru, should also be taken up for upgradation.

He further said that airports in other tier-2 and 3 cities in the State should also be developed.

The FKCCI said that focus on “Startup India, Standup India,” with a tax rebate for three years, was a welcome move as it would help generate additional jobs and benefit the youth of the country.

Meanwhile, N. Muthukumar, chairman, CII Mysuru, described the budget as progressive. He said that there was a lot of thrust and boost to rural economy, agriculture, and infrastructure and importantly simplification of tax making it a well rounded budget.

“The planned investment in rural and infrastructure sector will have a cascading effect … it will not only create jobs, but also give impetus to demand and economic growth,” Mr. Muthukumar said.

He said the e-market for farmers will have a great impact and certainly make a difference to millions of farmers. Various reform measures towards FDI investments, Make in India and Ease of Doing Business will improve business sentiments, he said and added that tax and duty benefits will go a long way in strengthening the manufacturing capabilities of the country.

Posted by on March 1, 2016. Filed under State. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.