COIMBATORE: Despite the economic slowdown, industry associations have welcomed the 2020-2021 Tamil Nadu budget. A sum of Rs 2,500-crore allocated for industries department, increase in interest subsidy from 3 per cent to 5 per cent for MSMEs, Rs. 607-crore allocated for Micro, Small and Medium Enterprises (MSME) Department and announcement of 500 new companies that will be set up under 'Entrepreneurs Innovation Scheme' are a few aspects welcomed by CODISSIA.
"The Coimbatore District Small Industries Association (CODISSIA) particularly welcomes the plan to construct Avinashi Road flyover from Coimbatore Airport up to Uppilipalayam. Once it is completed, it will greatly reduce the traffic congestion, going along with expansion plan for international airport will pave way for an in-depth growth of Coimbatore industrial development significantly." R. Ramamurthy association president said.
Also welcoming the state budget, on behalf of members of The Indian Chamber of Commerce and Industry, particularly appreciated the allocation of Rs 11,894.48 crore for Agriculture Department, which will boost the agricultural activities and support the farmers, allocation of Rs 1,200 crore for establishing 11 new medical colleges already announced in 11 districts, allocation of Rs 200 crore for labour welfare and allocation of Rs 2,500 crore for industry development.
Both the associations hailed the announcement of reduction in stamp duty for rental agreements under the new Tenancy Act.
"We also expect allocation of funds for acquiring lands for Coimbatore Airport expansion projects which is long pending and very essential for the development of Coimbatore," said V Lakshminarayanasamy president of The Indian Chamber of Commerce and Industry.
Meanwhile, the allocation of funds of Rs 966 crore for free laptops for 11th standard students in the budget has not gone down well with the Citizens' Voice Club.
C.M. Jayaraman association president said "instead of giving free laptops to students, the government can consider upgrading the schools with desktop computers and other infrastructure."
