City biz chambers hail rationalisation of duties
Times of India | 24 July 2024Indian Chamber of Commerce president Ameya Prabhu said: “We had given recommendations on the rationalization of custom duties. The budget has been made keeping in mind the entire country, though certain states will get an impetus.”
The Confederation of Indian Industry (CII) welcomed the budget that aims at rural development, MSMEs, public infrastructure boost and enhanced role of women in economic development with a focus on the east and the northeast.Shashwat Goenka, deputy chairman of CII eastern region, said: “The essential part of the budget is the focus on the regional sectors, be it for infrastructure, agriculture or tourism. It further builds on the foundation for a Viksit Bharat.”
Investment package for the eastern region will witness proportionate allocation for all the states of the region, according to Gautam Ray, president of the Bengal Chamber of Commerce and Industry. The budget has had a mixed response from the Merchants’ Chamber of Commerce and Industry. President Namit Bajoria said: “We had asked for an inclusion of premium medical insurance in the new regime. That has not been addressed.”
N G Khaitan, president of Bharat Chamber of Commerce, thought that the decision to enhance the limit of loans under the MUDRA scheme to Rs 20 lakh from Rs 10 lakh will boost credit access for the micro enterprises. “The drive on skill development, modernisation of industrial training institutes and employment generation through incentives for internship is admirable,” he added.
