TN Budget: Progressive and growth-oriented, says various industry associations
TIRUPUR: The first state budget (for the year 2017-18) by the Edappadi K Palanisami-led AIADMK government in Tamil Nadu on Thursday has been substantially hailed as ‘progressive and growth-oriented’ by various industry associations in the Coimbatore-Tirupur region. Only the pump-sets manufacturers have termed it as below expectation.
Reacting to the budget proposals presented in the Assembly by, the president of the Tirupur Exporters’ Association (TEA), Raja M Shanmugam, said, “we welcome the tax-free budget and people will get benefits after implementation of the schemes announced in the budget. The allocation of Rs 2,000 crore for the Tamil Nadu Infrastructure Development Fund (TNIDF) would be helpful for the development of infrastructure in the state, which is need of the hour.”
The allocation of Rs 532 crore for MSME (medium, small and micro-enterprises) sector and proposal for launching a ‘Special Export Promotion and Marketing Support Scheme’ has also been wholeheartedly welcomed by industry associations here.
The Confederation of Indian Industry (CII), Coimbatore Zone, has thanked the government for considering many recommendations of the industry including infrastructure development in the state. Chairman of CII, S Narayanan, said, “the allocation of Rs 1,400 crore for the ‘Smart City Mission’ is a welcome move. The government has also taken various measures towards improving infrastructure and business climate in the state.”
The South India Hosiery Manufacturers’ Association (SIHMA) lauded the budget for providing fund allocation to all vital sectors and those related to the welfare of common people. The SIHMA president, A C Eswaran, said, “the agriculture loan waiver and adequate fund allocation for various departments including for labour welfare schemes are highly welcome.”
Meanwhile, the South India collar shirts and Inner wear Small scale Manufacturers Association, (SISMA), K S Babuji, said, “though, the budget has come amid the severe financial crisis, the announcements made with the objective to develop the welfare of people across all sectors, would help the growth of industry in Tamil Nadu.”
However, the pump sets manufacturers are disappointed by the budget for not considering any schemes for their sector. The president of Kovai Power Driven Pumps and Spares Manufacturers Association (KOPMA), K Maniraj, said, “the pump sets manufacturing industry is a major supportive industry of agriculture and drinking water supply. However, none of the demands has been considered to help the industry including to reduce electricity tariff and to speed up providing subsidy for small entrepreneurs.”
