Our Bureau

Chennai, Aug. 11

THE Tamil Nadu Small & Tiny Industries Association (Tanstia) has expressed concern about the special financial package for small and medium industries announced by the Union Finance Minister, Mr P. Chidambaram.

Reacting to the package, Tanstia has said that the announcement comes as a statement by the Minister in Parliament.

However, this has to be backed by a statutory recognition to the package. Otherwise the details and promises in the package are not binding, according to the association.

The Finance Minister has said that an advisory committee formed by the Reserve Bank of India would review the flow of credit.

But there already is an advisory committee and its recommendations are only discretionary, Tanstia said.

(This article was published in the Business Line print edition dated August 12, 2005)
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