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29 Feb 2024, Edition - 3152, Thursday

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Trade and industry welcome the budget

Covai Post Network


Coimbatore : The industry and trade bodies in the region welcomed Tamil Nadu budget presented by Deputy Chief Minister, O Paneerselvam today.

While welcoming the budget Tirupur Exporters Association President. Raja M Shanmugham said the decision to form Tamil Nadu Infrastructure Development Board to fast track infrastructure projects will help to execute the projects in time.

He also lauded the decision to establish a new autonomous body named MSME Trade and Investment Promotion Bureau to provide access to international markets for the products and services of the MSMEs, which will largely help Tirupur MSME knitwear exporting units.

While appreciating comprehensive strategies followed for poverty allocation, he said in a statement that allocation of a sum of Rs.230.89 Crore under Deen Dayal Upadhyaya Grameen Kaushalya Yojana for placement linked skill training to benefit rural youth for the coming year and pointed out that Skill Division of NIFT-TEA College of Knitwear Fashion is also imparting training to youth under the scheme and will place them in member units of our Association.

He also welcomed the proposal to establish Advanced High End Skill Building centres to impart higher level technical skills to unemployed engineering graduates in the coming year in five selected district headquarters and he appealed to select Tirupur as one among them.

President of Local Chapter of Indian Chamber of Commerce and Industry V Lakshminarayanaswamy thanked for presenting this Budget without any new tax.

Allocation of Rs. 18,700 crore for provision of drinking water for Municipal Administration and Water Board, Proposal for establishment of an Arts and Science College in the name of former President Dr APJ Abdul Kalam in Rameshwaram, proposal to purchase electric buses for plying in Chennai, Coimbatore and Madurai districts., allocation of Rs 18,274 crore for Rural Development projects, are all welcome measures, he said in a statement.

Stating that the long felt need of Coimbatore was the implementation of Metro Rail Project which we hope will see the light of day in the forthcoming year, he said and appealed to the government that under road developmental projects, formation of a ring road connecting Palghat road, Thadagam road, Mettupalayam road, Sathy road and Avinashi road may be considered on priority.

Lakshminarayanaswamy said that industry expected allocation of funds for acquiring lands for Coimbatore Airport expansion project which is long pending and very essential for the development of Coimbatore.

In short the Budget for 2019-2020 was a well balanced one giving the citizens hope of prosperous times ahead for the State, he said.

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