Budget has touched most aspects of economy: FGI
TNN | Feb 2, 2019, 04:05 ISTVadodara: The Federation of Gujarat Industries (FGI) appreciated the interim budget presented on Friday and said that it will benefit the micro, small and medium enterprises (MSME) as well as agricultural sector. The association said that the government has touched almost all aspects of the economy.
“It is a comprehensive budget that will benefit major sections of the society. The government has thought about MSMEs, farmers and middle-class category along with senior citizens,” said Dilip Shah, senior vice-president, FGI.
The government on Friday announced two per cent interest subvention for MSMEs for loans up to Rs one crore. “The government has taken many steps to support the MSME sector that provides jobs to crores of people in the country,” Finance Minister Piyush Goyal said while presenting the budget for 2019-20.
Shah said, “Despite initial jerks due to GST implementation, the tax collection has doubled. Raising the limit of income tax rebate up to Rs five lakh will benefit the salaried class. Also, the government has laid out Vision 2030 which is impressive.”
Mehul Patel, chairman, CII, Central Gujarat Zonal Council said, “The budget announcements have largely taken care of the agriculture sector, middle income class and unorganised sector. Fiscal deficit of 3.3 percent forecast for 2018-19 has been revised upwards by 10 basis points. Social security contribution for workers in the unorganised sector is game changing.”
“Full rebate for individuals earning income up to Rs five lakh will boost purchasing power significantly. This budget has something for every class of the society,” he added.
“It is a comprehensive budget that will benefit major sections of the society. The government has thought about MSMEs, farmers and middle-class category along with senior citizens,” said Dilip Shah, senior vice-president, FGI.
The government on Friday announced two per cent interest subvention for MSMEs for loans up to Rs one crore. “The government has taken many steps to support the MSME sector that provides jobs to crores of people in the country,” Finance Minister Piyush Goyal said while presenting the budget for 2019-20.
Shah said, “Despite initial jerks due to GST implementation, the tax collection has doubled. Raising the limit of income tax rebate up to Rs five lakh will benefit the salaried class. Also, the government has laid out Vision 2030 which is impressive.”
Mehul Patel, chairman, CII, Central Gujarat Zonal Council said, “The budget announcements have largely taken care of the agriculture sector, middle income class and unorganised sector. Fiscal deficit of 3.3 percent forecast for 2018-19 has been revised upwards by 10 basis points. Social security contribution for workers in the unorganised sector is game changing.”
“Full rebate for individuals earning income up to Rs five lakh will boost purchasing power significantly. This budget has something for every class of the society,” he added.
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