The Hindu : Tamil Nadu / Chennai News : Trade, Industry bodies welcome budget

Online edition of India's National Newspaper
Monday, Jul 24, 2006

Tamil Nadu

Tamil Nadu - Chennai

Trade, Industry bodies welcome budget

Staff Reporter

Healthy and progressive, says chamber

CHENNAI: A host of trade and industry associations, besides those of serving and retired government employees have welcomed the State budget presented on Saturday.

Noting that the budget contained "a number of pragmatic measures" southern region chairman of the Federation of Indian Export Organisations A. Sakthivel said they would "go a long way in multifaceted development of the States in all spheres."

Like several trade and industry bodies, FIEO-SR welcomed the decision to introduce value-added tax. Also, it said the decision to constitute a special task force with the Chief Minister as chairman and comprising representatives of industry and commerce associations would help resolve policy level issues and problems expeditiously.

Long-standing demand

Tamilnadu Plastics Manufacturers' Association secretary thanked the State Government for considering its long-standing demand of providing set off for the entry paid on PP and LDPE, two essential raw materials used by the plastic processing units.

Describing it as a "healthy and progressive budget" the National Chamber of Commerce welcomed the decision to abolish resale tax, introduce VAT, and provide sales tax exemption to foodgrains and pulses.

Satellite towns

Builders' Association of India, southern centre, commended the budget for its proposals pertaining to basic infrastructure development such as roads, underground drainage and buildings. It was particularly enthused by the announcement on creation of satellite towns near Chennai.

Welcoming the budget proposals, the National Confederation of Small Industry said several benefits announced for the farm sector, such as loans at seven per cent interest and terminal markets for agro product, should be extended to the small and tiny industries.

The concessional interest rate should be applied to loans up to Rs.10 lakh.

Will benefit 5 lakh people

All-India Skin and Hide Tanners and Merchants Association the formation of labour welfare board for footwear and tannery workers would benefit more than five lakh people, 80 per cent women, employed directly and indirectly in the sectors.

The Tamil Nadu Arasu Anaithu Paniyalar Kazhagam welcomed the Budget for being tax-free and addressing the demands of the Kazhagam, including reducing the eligibility norms, in terms of the number of years in service, for getting full pension from 33 to 30 years.

Besides welcoming the reduction in qualifying service for full pension, Tamil Nadu Government College Teachers' Manram hailed the proposals for setting up two technical universities and a centre for research on Dravidian movement in Madras University.

Benefits restored : LPF

Labour Progressive Front president C. Kuppusami said the budget had restored various benefits of the government employees and teachers. Tamilnadu Police Department Ministerial Staff Association welcomed the budget for the proposals on restoration of bonus, terminal benefits, payment of pay commission arrears and constitution of police commission.

Jananayaka Munnetra Kazhagam founder president S. Jagatrakshagan, Tamil Nadu Secretariat Drivers' Association, Tamil Nadu Government Office Assistant and Basic Servants Central Association, Sivaelango Tamilnadu Arasu Aluvalar Onrium, Tamilnadu Government Pensioners' Union and Tamilnadu Tailoring Employees Progressive Union were among those who welcomed various provisions in the budget.

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