Coimbatore Inc hails allocation for Metro rail project

COIMBATORE: Several industry associations in the district hailed the State government for allocating Rs 6,683 crore for the Coimbatore metro rail project. A few,  however, criticised the lack of additional loan moratorium and special schemes for MSMEs.

President of Coimbatore District Small Industries Association (CODISSIA) M V Ramesh Babu welcomed the announcement of 62 investment projects worth Rs 39,941 crore, including the Chennai-Kanniyakumari industrial route project and the second phase of road development projects.

C Balasubramanian, president of the Indian Chamber of Commerce and Industry-Coimbatore, said their expectation of additional moratorium on loan repayments was not fulfilled. The Kovai Power Driven Pumps Manufacturers Association (KOPMA) said there were no special scheme or relief measure for SMEs. KOPMA president K Maniraj feared MSMEs may not be able to get assistance as allocation of Rs 300 crore towards the TN Industrial Investment Corporation was “low”. Tiruppur Exporters Association president Raja M Shanmugham opined that extending the Coimbatore metro rail project up to Tirupur city would help a large number of commuters.  

‘Development of Southern dists ignored’
Madurai: The Tamil Nadu Chamber of Commerce and Industry has expressed disappointment over the interim State budget. The trade body said that the development of southern districts has been ignored. In a statement, President of Tamil Nadu Chamber of Commerce and Trade Industry N Jegatheesan said that the interim budget, with a revenue deficit of about Rs 41,000 crore and absence of any significant announcement, has left the trade body disappointed.