The traders and industrialists of Coimbatore today welcomed the revised budget presented by Finance Minister O. Paneerselvam in the State Assembly, and termed the tax-free budget as balanced one.

Thanking the government for the tax-free budget, and for not hiking the existing tax rates, D. Nandakumar, the president of the local chapter of the Indian Chamber of Commerce and Industry, said that the Budget is taking special interest for development of all sectors, aiming at the welfare of the people of Tamil Nadu.

Various measures announced for continuous drinking water supply to all, announcement for implementation of new scheme for unemployed youths, allotment of Rs.13,800 crores for energy sector with stress on solar power, allotment of Rs.300 crores in the next one year for maintenance of roads, and Rs.2,700 crores to maintain the highways were welcome steps, he said.

Stating that the decision to desilt Vaigai and Noyyal rivers at the cost of Rs.24.58 crores will help to increase water augmentation for Coimbatore, he said that the announcement for provision of fund to Smart City Projects, equivalent to the funds of the central government, will certainly help Coimbatore which is on the list of Smart Cities.

Meanwhile, in a statement, A Sakthivel, president of the Tirupur Exporters’ Association, welcomed the tax-free Budget and expressed happiness for addressing the long pending requisition for laying of four-lane road between Tirupur and Oddanchatram. The four lane roads and strengthening the 70 Km stretch will help in smooth flow of traffic and also reduce the time to reach Tuticorin port, majorly used by Tirupur garment exporters, he said.

He appreciated the Government proposal to train two lakh youth under the Tamil Nadu Skill Development Mission, and the allocation of Rs.150 Crores for this purpose, which was the need of the hour for industries.

Sakthivel also welcomed the continuance of extending 25 per cent Capital Subsidy up to Rs.30 Lakhs, besides extending Interest Subvention benefit of three per cent to MSMEs, which will attract new entrepreneurs.