TIRUCHI
The Tamil Nadu Vanigar Sangankalin Peramaippu has expressed disappointment over the Union Budget as “it did not have any of the expected announcements.”
While it is heartening to note the provision of ₹35,000 crore for COVID-19 vaccination and the record collection of GST over the past few months, the absence of any relief to pandemic-hit traders in the form of tax relief, concessions, and soft loans is a huge let-down, said Ve. Govindarajalu, general secretary of the association. The absence of any move to increase the ceiling on personal income tax was also disappointing, he added.
Although the Finance Minister Nirmala Sitharaman had said that the consumer would not have to bear any additional burden as the Basic Excise Duty (BED) and Special Additional Excise Duty (SAED) on petrol and diesel is being reduced consequent to imposition of Agriculture Infrastructure and Development Cess (AIDC), Mr.Govindarajalu said the imposition of the cess could lead to price rise. Disinvestment in public sector units with good performance records should also be avoided.
Mr.Govindrajalu, however, welcomed the move to rationalise the Customs duty on gold and said it could lead to a reduction in the price of the yellow metal. He also appreciated the allocation of funds for the Madurai-Kollam economic corridor.
The Consumer Protection Council, Tamil Nadu, welcomed the move to start embedded degree and diploma courses in 150 higher educational institutes by March. It will help increase employability of students, said S. Pusphavanam, Secretary of the council.
“However, he observed that the expenditure on Education was still at 3.5% of GDP instead of the 6% recommended by various committees,” he observed.
“The disinvestment target has been carried over and many other targets have not been met. Since it was a pandemic year, certain amount of leniency has to be extended to the Central Government,” he observed.
The Chamber of Commerce and Industry, Thanjavur, welcomed the move to integrate 1000 more ‘mandis’ into the e-NAM and observed it could be a game changer. Allocations for health and infrastructure development sectors would really give a boost to the economy, said the Chamber president, N.T. Balasundaram.
