VIJAYAWADA: Vijayawada Chamber of Commerce and Industry welcomed the Union Budget as it would provide benefit to the common people and small traders.
Vijayawada Chamber of Commerce and Industry president V. Bhaskara Rao said here on Friday that pension benefit to small traders and sanction of loan up to Rs 1 crore, insurance coverage to shop keepers and incentives to micro, small and medium enterprises are good measures initiated by the Centre. However, he said that hike in customs duty on gold to 12.50 per cent from the existing 10 per cent would affect the bullion traders. He felt the need to bring down GST in construction industry, to bring down the burden of cost escalation in housing units, due to hike in construction material cost.
