The Hindu Business Line : Positive, innovative schemes for all-round economic growth: TN Chamber

The Tamil Nadu Chamber of Industry and Commerce has said that the budget is a veritable goldmine with positive and innovative schemes for the all-round growth of economic activity in the State. The decision to go ahead with the linkage of rivers, the announcement of a scheme for constructing 48,500 recharge structures at an estimated cost of Rs 550 crore and the innovative schemes for women self-help groups (SHGs) are bound to stimulate the agricultural economy, the Chamber observed.

Thanking the Tamilnadu Finance Minister and the Commercial Tax Minister for implementing many of the demands of the Chamber in the pre-budget interaction, the Chamber President, Mr S. Rethinavelu, said that the proposal to form SHGs among small traders, and to grant them credit facilities through co-operative banks would help them face the challenges from multi-national companies in the retail trade.

He has requested the implementation of left out demands for conversion of conditional exemptions in edible oil, pulses etc into general exemptions, and for reduction in tax rates on LPG stove, mixer grinder and branded food articles.

Power needs

The Madurai District Tiny and Small Scale industries Association has welcomed the thrust given to agriculture, education, social welfare schemes and linkage of rivers in the budget. However, it has expressed disappointment over the absence of announcement schemes for the industrialisation of southern districts.

More Stories on : Budget | Industry Associations | Tamil Nadu

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page