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June 25, 2016

Chambers of commerce laud ‘forward-looking’ Budget

Chambers of commerce laud ‘forward-looking’ Budget

The Bengal Chamber of Commerce and Industry on Friday congratulated state Finance Minister Dr Amit Mitra for presenting a forward looking Budget for 2016-17, with an almost five-fold increase in planned expenditure that focuses on education, employment, agriculture and the MSME sector.

The Chamber said it was encouraging that the state has also been able to achieve a robust growth of seven times in agriculture and four times in infrastructure development in the past five years, while at the same time pushing down fiscal and revenue deficits within manageable limits even against the backdrop of a huge inherited debt burden of over Rs. 2.5 lakh crore.

Rakesh Shah, president of Bharat Chamber of Commerce, Kolkata said: “Amit Mitra deserves rich accolades for the most remarkable accomplishments in terms of the reduction in fiscal deficit and revenue deficit. This is despite large scale implementation of several ambitious schemes and projects for growth in the social development sector, which are being emulated in other States of the country.”

Anil Vaswani, Chairman, CII West Bengal State Council said that the Budget is a developmental one “with a focus on small-scale industries, health, infrastructure and education. The Finance Minister has made proposals to expedite speedy dispute resolution of VAT appeal cases. This will certainly go a long a long way in improving business environment in the state.”