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KOCHI: The Indian Chamber of Commerce and Industry (ICCI) has welcomed the Union Budget saying that the various measures including strengthening of National Horticultural Mission as well as a massive tea plantation will give a boost to agricultural growth.

Mr K.S. Sabu, President of Chamber, said that Kochi Port legitimately deserved to be one of the beneficiaries under the National Urban Renewal Mission to cover the seven mega cities and some other towns with an outlay of Rs 5,550 crore. The measures announced for poverty alleviation and easing the unemployment problem are commendable proposals, he said.

The reduction of customs duties will help the industries to acquire a competitive edge. Raising the ceiling for SSI exemption, abolition of Central Excise surcharge of Re 1 on tea and duty on refined edible oil and vansapati, exemption of customs and excise duty on LPG for domestic consumption is welcome features of the Budget.

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