Financial Daily from THE HINDU group of publications
Friday, Jul 09, 2004
Financial Daily from THE HINDU group of publications Friday, Jul 09, 2004 |
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Opinion
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Letters A major concern
Budget 2004 is a Budget for rural India. Emphasis has been given, as anticipated, to education, health, agriculture and infrastructure. However, the small scale industries (SSI) sector is a bit disappointed on the sidelining of this growth sector which provides millions of jobs for the uneducated and under-privileged. A major area of concern of the SSI sector is the credit delivery mechanism, and interest rate reduction at a par with large industries. While the Finance Minister must be thanked for increasing the Technology Upgradation Fund from Rs 40 lakh to Rs 1 crore along with increase of credit-linked capital subsidy from 12 per cent to 15 per cent, it is time to evaluate the effectiveness of its utilisation. The very survival of the SSI units is at stake with the non-supportive attitude of banks citing NPA norms. A. Selvaraj
Letters to the editor and contributions can be sent by e-mail to: bleditor@thehindu.co.in
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