The Union Budget presented on Monday evoked mixed response from the people and industrialists as they said it failed to fulfil their expectations.
B. Kandavel, coordinator, Tamil Nadu Federation of Powerlooms’ Associations, said that they were against imposition of anti-dumping duty on viscose spun yarn and were expecting the announcement in the budget. “But instead, Basic Customs Duty on nylon fiber and yarn was reduced to 5% which will not serve any purpose to us”, he added.
C. Balakrishnan, general secretary, Federation of All Traders’ and Industry Associations of Erode District (FATIA), said that MSME sector, that was most affected during pandemic, was expecting special reforms. But ₹ 15,700 crore to the sector will be only in the form of loan which will not help the affected units, he added.
He said that youngsters should have been encouraged to start units in their villages and come out with more value added products. “But there is no such announcement,” he added. The general secretary said that unbelievable offers by e-commerce giants are having huge impact on MSMEs and the government failed to regulate them.
A major disappointment for individual taxpayers is that the tax slab remains unchanged in the budget. “We were expecting relief on taxation,” V. Ramachandran, an executive at a private company who, however, welcomed the extension of ₹ 1.5 lakh deduction on payment of interest for affordable housing by one year. Announcement on strengthening of schools and starting of Eklavya schools in tribal areas, integration of more Mandis into the E-NAM were welcomed by the common people and farmers in the district.
