Finance Minister Nirmala Sitharaman met with industrialists in Coimbatore, assuring them that GST-related demands would be considered and discussed in the GST Council. The meeting addressed various industry concerns and budget initiatives.
Coimbatore: Union Finance Minister Nirmala Sitharaman held a crucial meeting with industrialists from Coimbatore, Tirupur, and Erode districts at the Codissia complex in Coimbatore on Sunday. The meeting, organized by the Codissia industrial association, saw participation from various sectors including MSMEs, textile mill owners, farmers, and traders.
During the interaction, representatives from different industrial bodies submitted petitions to officials from the Income Tax Department, GST, Customs, and other departments who had come from Delhi. Sitharaman, accompanied by Coimbatore South MLA Vanathi Srinivasan, addressed the gathering and assured them that their concerns would be addressed.
The Finance Minister emphasized that it was the duty of officials to listen to people's grievances. She thanked the officials for attending the meeting and receiving petitions from the industrialists. Sitharaman stated, "Officials from various departments including GST, Customs, Income Tax, MSME, IOB, and Canara Bank are present here today. Steps will be taken to find solutions for each petition submitted."
Highlighting Coimbatore's industrial potential, Sitharaman mentioned the implementation of the Atal Innovation Mission and Defense Corridor in the region. She also announced the recent opening of a SIDBI branch in Kurichi area and revealed plans for another branch in Coimbatore soon. The minister disclosed that the existing SIDBI branch in Coimbatore had already disbursed Rs 314 crore out of a planned Rs 491 crore in bank loans within a year, with total transactions reaching Rs 620 crore.
Sitharaman outlined various initiatives from the recent budget aimed at benefiting small and micro industries. She mentioned the provision of self-finance guarantees for bank loans up to Rs 100 crore and the increase of Mudra Bank loans from Rs 10 lakh to Rs 20 lakh. The minister also touched upon schemes for vegetable preservation and plans to modernize ITIs in collaboration with state governments.
Addressing GST concerns, Sitharaman assured the industrialists, "I will definitely consider the demands regarding GST. I will also bring this up in the GST Council." She promised to take appropriate actions on the petitions received after discussing them with officials in Delhi.
The Finance Minister's visit and assurances have been welcomed by the industrial community in Coimbatore, who are hopeful for positive outcomes regarding their GST-related concerns and other industrial issues.
During the interaction, representatives from different industrial bodies submitted petitions to officials from the Income Tax Department, GST, Customs, and other departments who had come from Delhi. Sitharaman, accompanied by Coimbatore South MLA Vanathi Srinivasan, addressed the gathering and assured them that their concerns would be addressed.
The Finance Minister emphasized that it was the duty of officials to listen to people's grievances. She thanked the officials for attending the meeting and receiving petitions from the industrialists. Sitharaman stated, "Officials from various departments including GST, Customs, Income Tax, MSME, IOB, and Canara Bank are present here today. Steps will be taken to find solutions for each petition submitted."
Highlighting Coimbatore's industrial potential, Sitharaman mentioned the implementation of the Atal Innovation Mission and Defense Corridor in the region. She also announced the recent opening of a SIDBI branch in Kurichi area and revealed plans for another branch in Coimbatore soon. The minister disclosed that the existing SIDBI branch in Coimbatore had already disbursed Rs 314 crore out of a planned Rs 491 crore in bank loans within a year, with total transactions reaching Rs 620 crore.
Sitharaman outlined various initiatives from the recent budget aimed at benefiting small and micro industries. She mentioned the provision of self-finance guarantees for bank loans up to Rs 100 crore and the increase of Mudra Bank loans from Rs 10 lakh to Rs 20 lakh. The minister also touched upon schemes for vegetable preservation and plans to modernize ITIs in collaboration with state governments.
Addressing GST concerns, Sitharaman assured the industrialists, "I will definitely consider the demands regarding GST. I will also bring this up in the GST Council." She promised to take appropriate actions on the petitions received after discussing them with officials in Delhi.
The Finance Minister's visit and assurances have been welcomed by the industrial community in Coimbatore, who are hopeful for positive outcomes regarding their GST-related concerns and other industrial issues.