Post the Tamil Nadu 2017-18 budget presentation today, several trade bodies and organisations have been registering their opinions on the overall budget and specific impact to their sectors. In this regard, Indian Chamber of Commerce and Industry (ICCI), Coimbatore Chapter have stated this as a 'Welcome Budget'.
Speaking on this, Vanitha Mohan, President, Indian Chamber of Commerce and Industry (ICCI), Coimbatore Chapter has stated that, 'We thank the Hon'ble Chief Minister, Thiru K Palanisami for presenting a Budget without any hike in the existing tax rates, although the recent revision of tax rates on petrol and diesel have had a dampening effect on revenues'.
The following points are regarded to be the highlights of this budget according to ICCI
'We also appreciate the Tamil Nadu Government for joining UDAY Scheme which helps the Government to save Rs.1335 crores. In short the Budget for 2017-2018 is a well-balanced one giving the citizens hope of prosperous times ahead for the State', said Vanitha Mohan, President, Indian Chamber of Commerce and Industry (ICCI), Coimbatore Chapter.
Speaking on this, Vanitha Mohan, President, Indian Chamber of Commerce and Industry (ICCI), Coimbatore Chapter has stated that, 'We thank the Hon'ble Chief Minister, Thiru K Palanisami for presenting a Budget without any hike in the existing tax rates, although the recent revision of tax rates on petrol and diesel have had a dampening effect on revenues'.
The following points are regarded to be the highlights of this budget according to ICCI
- Allocation of Rs.532 crores for MSME sector will go a long way in pulling it out from the quagmire caused by demonetization
- Allocation of Rs. 1200 crores for Smart Cities Mission and provision of Rs.563 crores for Tamil Nadu Sustainable Urban Development Programme
- Considering the acute water scarcity prevailing in Tamil Nadu, allocation of Rs 615 crores for drinking water across the State is a welcome measure.
- The long pending plea of the people of Avinashi will be fulfilled by provision of Rs.250 crores for Athikadavu-Avinashi link project.
- Allocation of Rs 150 crores for providing vocational training to 1 lakh youth by establishing India International Skill Centre, one of which will be located at Coimbatore will go a long way in fostering skill development in Tamil Nadu.
- Healthcare in the State will receive a boost by allocation of Rs.10,150 crores to the Health Department. Setting up 10 new pharmacies to sell generic drugs and establishing 30 Primary Health Centres across the State are welcome measures.
- Allocation of Rs.3100 crores for improving road infrastructure is a welcome measure.
- Considering the rapid depletion of ground water across Tamil Nadu, a Rs.3042 crores loan from the World Bank for conservation of water bodies is certain to alleviate the dire water scarcity situation that the State is facing now
- The budget also promises to be a boon for the farming community by getting co-operative banks to offer Rs.7000 crores and green loan for farmers besides allocation of Rs.100 crores for Farmer Producer Organizations.
- A long felt need by industry has been fulfilled by the Finance Minister's assurance to set up an on line process to introduce a single window system for all permissions for industries.
'We also appreciate the Tamil Nadu Government for joining UDAY Scheme which helps the Government to save Rs.1335 crores. In short the Budget for 2017-2018 is a well-balanced one giving the citizens hope of prosperous times ahead for the State', said Vanitha Mohan, President, Indian Chamber of Commerce and Industry (ICCI), Coimbatore Chapter.