Economy

‘Emerging Kerala' may bring more investment to State: Indian Chamber of Commerce

Our Bureau Kochi | Updated on November 14, 2017 Published on March 19, 2012

The budget presented by the Finance Minister, Mr K.M. Mani, is welcome in most of the areas pertaining to trade, commerce and industry, the Indian Chamber of Commerce and Industry said.

The programme of “Emerging Kerala”, which the Government is planning, is expected to kick start the trade and industry to more investment coming to the State.

The idea of skill development, in the area of container freight station will also increase job opportunities, Mr P.L. Prakash James, President of the Chamber, said.

In the tourism area, the proposal to introduce passenger boat service between Fort Kochi and Allapuzha was a long awaited one.

The tax for essential food commodities has brought down to one per cent and the exemption of social security cess will certainly bring down prices of every day consumer products.

However, the increase of VAT from 4 to 5 per cent and from 12.5 to 13.5 per cent will ultimately burden the common man, the Chamber said.

Since the GST is expected to be in force from August this year, the Finance Minister could have avoided raising VAT by one per cent.

Overall this budget will give a boost to the people as well as in the field of Agriculture, IT, Infrastructure, trade and commerce.

Mr Joseph Alappat, former Vice-Chairman of the Coconut Development Board, said that the budget would do a world of good for the coconut farmers.

He said that the coconut farmers were immensely happy with the proposed coconut bio park and hoped it would materialise soon.

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Published on March 19, 2012
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