The trade and industry seems to be sceptical of the Kerala budget, saying that it is a jugglery of figures and facts.

The budget cannot be taken seriously by the business and trading community, purely because of the upcoming elections and its more or less predictable outcome, K.B. Rajan, president of the Indian Chamber of Commerce and Industry said.

The way, in which the new government which will be formed in a few months implements this budget, remains a question mark, he said in a statement.

However there has been a bunch of promising decisions put forward, the most noticeable of which is the aid of ₹764 crore for agri-sector. The grants for coconut, rubber and tax deductions for spices are all welcome decisions. The education subsidies for student loans will give a breathing space for the students.

Hailing the budget, the Cochin Chamber of Commerce and Industry pointed out that the move to upgrade the existing infrastructure is timely and appreciable. The mentioning of several pending infrastructure projects and the budget allocations for the same would boost infrastructure development.

Likewise, the move to promote minor ports, coastal cargo movement and subsidy schemes for inland water navigation will enhance cargo movements, C.S. Kartha, president, Cochin Chamber of Commerce and Industry said.

The Chamber felt that the allocation made for effective initiatives in the energy and waste management sectors would be inadequate to meet the challenges.

However, the trade body expressed serious concern over the State’s ₹19,971 crore revenue deficit and the lower growth rate at 6.67 per cent in 2014-15 against 6.82 per cent in 2013-14.

Related Topics