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The Canara Plastic Manufacturers’ and Traders’ Association (CPMTA) has said that the Government should have come out with schemes in the Union Budget for 2021-22 for increasing employment opportunities as jobs in many sectors have been affected by the economic slowdown.
Reacting to the budget proposals, BA Nazeer, President of CPMTA, said industries can still create employment in the present scenario.
He said the Union Finance Minister, Nirmala Sitharaman, has carried out a smart balancing act in meeting aspirations of various sections of society in the budget.
He said the proposal to revise the definition under the Companies Act, 2013 for Small Companies by increasing their thresholds for paid-up capital from ‘not exceeding ₹50 lakh’ to ‘not exceeding ₹2 crore’ and turnover from ‘not exceeding ₹2 crore’ to ‘not exceeding ₹20 crore’ will benefit small companies in easing their compliance.
He said higher allocation to National Highways would improve our infrastructural development in the country.
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