The Malabar Chamber of Commerce (MCC) has hailed the Union Budget saying that the proposals are aimed at bettering basic facilities in the country.
The budgetary allocations focussing on health, education and farm sectors came against the background of the COVID-19 pandemic that devastated the economy. For Kerala, the budget allotted funds for the development of national highway and metro rail, MCC president K.V. Haseeb Ahamed and secretary M.A. Mehaboob said here. They said the budget had proposals promoting two-tier cities for the development of airports and seaports. The proposals aimed at skill training partnerships with countries like Japan would be beneficial, they said. However, the MCC said that the increasing deficit would further lead to a debt trap. Even then the proposal for raising the capital base of micro, small, and medium enterprises from ₹50 lakh to ₹2 crore would be beneficial for the sector. However, more proposals were expected in the sector, they said.
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