Coimbatore: "In light of prevailing economic slowdown in the country, the focus on economic development of the State in the recently released Tamil Nadu budget for 2020-2021 is appreciable", said R Ramamurthy, President of CODISSIA in a press release.
Coimbatore: "In light of prevailing economic slowdown in the country, the focus on economic development of the State in the recently released Tamil Nadu budget for 2020-2021 is appreciable", said R Ramamurthy, President of CODISSIA in a press release.
Breifing on the insights of the budget, he noted in the press release that in 2019-2020, the economy growth of Tamil Nadu is projected to be 7.27% which is significantly higher than the projected all India growth rate of 5%.
The budget has Rs.607 crore allocated for Micro, Small and Medium Enterprises Department which will directly and indirectly benefit the MSMEs and stimulate their demand in various sectors and facilitate their growth, he informed.
"CODISSIA particularly welcomes the project for construction of Avinashi Road flyover from the Coimbatore Airport upto Uppilipalayam. It noted that once the project is complete, it will greatly reduce traffic congestion along the stretch. Along with the expansion plan for the International airport, a path will be paved for a significant, in-depth growth of Coimbatore's industrial development", the CODISSIA President said in the release.
These are the points highlighted by him on behalf of CODISSIA regarding the TN Budget 2020-21:-
*Rs.2500 crore has been allocated for Industries Department
* Increase of interest subsidy from 3% to 5% for MSMEs
* Rs.607 crore’ allocated for Micro, Small and Medium Enterprises Department
* 500 new companies will be set up under Entrepreneurs Innovation Scheme.
* Rs.100 crore has been allocated for New Entrepreneurship and Entrepreneurship Development Scheme thereby increasing Capital Subsidy to them to Rs.50 lakhs from Rs.30 lakhs
*Stamp Duty tax has been reduced to 0.25 % from the earlier 1%
*Sanction for a 10.1 km. elevated road from Coimbatore Airport to Uppilipalayam along Avinashi Road in Coimbatore at a cost of Rs.1620 crore.
Provision of Rs.200 crore for 2020-2021 for implementation of this project.
*Rs.1650 crore allocation for Smart City Project
* Rs.1000 crore allocation for Chennai-Kanyakumari Industrial Corridor
* Rs.153 crore allocated for Information Technology Department
* Rs.500 crore has been stepped up for revamping the road safety fund the Highways Department to form a Road Safety Division
* Urban Transportation across cities to be streamlined
* Rs.6754 crore allocation for Rural development
* Launch a new five year Chief Minister’s Rural Self-Sufficiency Development Programme to focus on the effective delivery of basic services to Rural Habitation.
* Rs.532 crore has been allocated for urban development
* Rs.1400 crore has been allocated for Rural Roads
* Rs.6991 crore has been allocated to various irrigation projects
* Rs.11894 crore has been allocated to agriculture department
* Rs.200 crore allocated for Labour Welfare Department
* Rs.6754 crore allocated for Development of Village Administration
* Rs.20115 crores allocated for Energy Department
* 21966 acres Industrial Park will be set up in Ponneri, Thiruvallur District on Chennai-Bangalore industrial corridor
* Rs.1453 crore allocated for Building Constructions in the Public Works Department
* Rs.2716 crore allocated for Transport Department
* Rs.5500 crore allocated for Highways Department
* Rs.10 crores subsidy will be allocated to develop Government College of Technology, Coimbatore, on completing the Diamond Jubilee (75 years).
Breifing on the insights of the budget, he noted in the press release that in 2019-2020, the economy growth of Tamil Nadu is projected to be 7.27% which is significantly higher than the projected all India growth rate of 5%.
The budget has Rs.607 crore allocated for Micro, Small and Medium Enterprises Department which will directly and indirectly benefit the MSMEs and stimulate their demand in various sectors and facilitate their growth, he informed.
"CODISSIA particularly welcomes the project for construction of Avinashi Road flyover from the Coimbatore Airport upto Uppilipalayam. It noted that once the project is complete, it will greatly reduce traffic congestion along the stretch. Along with the expansion plan for the International airport, a path will be paved for a significant, in-depth growth of Coimbatore's industrial development", the CODISSIA President said in the release.
These are the points highlighted by him on behalf of CODISSIA regarding the TN Budget 2020-21:-
*Rs.2500 crore has been allocated for Industries Department
* Increase of interest subsidy from 3% to 5% for MSMEs
* Rs.607 crore’ allocated for Micro, Small and Medium Enterprises Department
* 500 new companies will be set up under Entrepreneurs Innovation Scheme.
* Rs.100 crore has been allocated for New Entrepreneurship and Entrepreneurship Development Scheme thereby increasing Capital Subsidy to them to Rs.50 lakhs from Rs.30 lakhs
*Stamp Duty tax has been reduced to 0.25 % from the earlier 1%
*Sanction for a 10.1 km. elevated road from Coimbatore Airport to Uppilipalayam along Avinashi Road in Coimbatore at a cost of Rs.1620 crore.
Provision of Rs.200 crore for 2020-2021 for implementation of this project.
*Rs.1650 crore allocation for Smart City Project
* Rs.1000 crore allocation for Chennai-Kanyakumari Industrial Corridor
* Rs.153 crore allocated for Information Technology Department
* Rs.500 crore has been stepped up for revamping the road safety fund the Highways Department to form a Road Safety Division
* Urban Transportation across cities to be streamlined
* Rs.6754 crore allocation for Rural development
* Launch a new five year Chief Minister’s Rural Self-Sufficiency Development Programme to focus on the effective delivery of basic services to Rural Habitation.
* Rs.532 crore has been allocated for urban development
* Rs.1400 crore has been allocated for Rural Roads
* Rs.6991 crore has been allocated to various irrigation projects
* Rs.11894 crore has been allocated to agriculture department
* Rs.200 crore allocated for Labour Welfare Department
* Rs.6754 crore allocated for Development of Village Administration
* Rs.20115 crores allocated for Energy Department
* 21966 acres Industrial Park will be set up in Ponneri, Thiruvallur District on Chennai-Bangalore industrial corridor
* Rs.1453 crore allocated for Building Constructions in the Public Works Department
* Rs.2716 crore allocated for Transport Department
* Rs.5500 crore allocated for Highways Department
* Rs.10 crores subsidy will be allocated to develop Government College of Technology, Coimbatore, on completing the Diamond Jubilee (75 years).