Industries welcome budget announcements

‘Announcements for MSME sector will help the units revive faster’

The budget announcements on Friday by Finance Minister P.T.R. Palanivel Thiaga Rajan are expected to generate employment opportunities in Coimbatore region.

Coimbatore MP P.R. Natarajan said establishing a defence components manufacturing park in Coimbatore would generate direct and indirect employment to thousands of people here.

A. Sakthivel, president of Federation of Indian Export Organisations, said various supports announced for MSME sector would help the units revive faster and provide large number of employment opportunities to the younger generation.

According to Coimbatore District Small Industries Association, VAT Samadhan Scheme for resolving all the issues relating to VAT payment will bring relief to MSMEs. Processing outstanding payments from Public Sector Units through TReDS is a major step that will benefit the MSMEs.

The Indian Chamber of Commerce and Industry, Coimbatore, said the “balanced budget” met some of the long-pending demands of the region.

The Southern India Engineering Manufacturers Association said the amendment to the Business Facilitation Act to enable new industrial units to establish and operate for three years on self certification would spur start-ups and entrepreneurship.

According to the Coimbatore SIDCO Industrial Estate Manufacturers Welfare Association, construction of affordable housing for workers will benefit the industrial hub of Coimbatore.

The Kovai Power Driven Pumps and Spares Manufacturers Association and the Coimbatore and Tiruppur Districts Tiny and Micro Enterpreneurs Association said while the budget had several welcome features, it did not speak about industrial estate for micro units here.

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