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Trade and industry has lauded the State government’s focus on infrastructure and industrial development in its maiden budget.
“The allotment of ₹5000 crore for various infrastructure projects signals the strong commitment of the government in this regard,” VP Nandakumar, Chairman, CII-Kerala, said.
According to him, the announcement of a Kochi-Coimbatore hi-tech corridor is a welcome initiative that promises significant long-term benefits for business and industry as well as job opportunities.
However, the government should see that the Ernakulam-Palakkad industrial corridor becomes a reality since the earlier proposal of Kochi-Coimbatore industrial corridor did not take off, G Krishna Kumar, Vice-Chairman, said.
He also suggested that the Finance Minister review the decision to retain check-posts even after GST is in place, since the check-posts in the State are considered one of the biggest bottlenecks in movement of goods.
Tax burdenThe Cochin Chamber of Commerce and Industry said the budget, despite its merits, would burden the people with increased taxes to bridge the deficit gap.
According to Chamber President CS Kartha, the green tax on old vehicles and the 10 per cent increase in tax on goods transport vehicles would result in price rise. Likewise, the proposed increase in vehicle tax, taxes on coconut oil and packaged wheat products etc would affect the common man and increase the cost of living, he said.
“We would have expected the government to set out means to curb wasteful and unnecessary expenditure rather than trying to increase taxes across the board,” Kartha said.
On the agriculture front, the Chamber was of the view that much more needs to be done to protect and promote the interests of this vital sector. Greater emphasis given to tourism sector in the budget would promote private investments.
The emphasis on green energy through the Nabard Green Fund for various solar energy schemes, the move to have solar panels atop all government offices are welcome steps, he added.
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