Industry hails Union Budget as ‘growth-oriented’

All about more Centrally-sponsored schemes for us: Bedi

Lt. Governor Kiran Bedi on Monday hailed the Union Budget 2021-22 as a “healthy budget” on all counts.

“All about more Centrally-sponsored schemes for us. And strengthening the existing ones,” Ms. Bedi said.

She also stressed on greater digitisation and time-bound deliveries, a robust agriculture department and education systems attuned to changes in the National Education Policy. Apart from housing, Jal Mission and waste management will be proactively watched, Ms. Bedi said.

Leader of the Opposition and former Chief Minister N. Rangasamy (AINRC) welcomed the “growth-oriented” character of the Budget that held benefits for all sections. The Budget also gave a thrust to the textile sector, he added.

The CII-Puducherry has also welcomed the Budget with its chairman M. Sankarnarayanan, stating that the measures for affordable housing, farmers and infrastructure further open up avenues for investment and new livelihoods. It is also heartening to note that health, education, innovations, MSMEs, agriculture and allied areas have been accorded special priority, he said.

On the steps taken towards boosting manufacture of electronic products in the country, Mr. Sankaranarayanan said the electronic industry has huge potential both in terms of manufacturing in India and job creation and will provide a major impetus for growth.

This will further enhance the exports of networked products.

The launch of a new centrally-funded scheme, Pradhan Mantri Swasthya Suraksha Yojana, Mission Poshan 2.0 and commitment of providing ₹35,000 crore for COVID-19 vaccine in the Financial Year 22 are all encouraging developments. He also hailed measures such as doubling of MSME allocation, setting aside ₹15,700 crore for medium and small enterprises in FY22, setting up faceless dispute resolution committee for individual taxpayers, making Income Tax Appellate Tribunal faceless, and constituting the dispute resolution committee for small taxpayers.

Vijay Ganesh K., Vice Chairman, CII Puducherry welcomed the reduction in customs duty on certain inputs and raw materials including long products of alloy and non-alloy stainless steel and copper scrap which have seen a sharp price increase in the last few months. This would help keep the prices of final products competitive.

The review of the 400-odd exemption notifications and introduction of the simplified duty structure from October 2021 are significant business measures which shall enhance cost competitiveness. He also said that production linked incentives would greatly help the MSME sector and drive growth in the pandemic situation, he said.

M. Kalaiichelvan, former CII chairman, said it was encouraging to see that the Government has perceived Startup as a key job creator as well as an engine of growth which forms the backbone of our economy.

I. Syed Sajjadh Ali, also former chairman, welcomed the proposed amendment to Apprenticeship Act to enhance opportunities for youth and the allocation of ₹ 3000 crore for realignment of existing National Apprenticeship Training Scheme (NATS) towards post-education apprenticeship, training of graduates and diploma holders in engineering.

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