Corporates hail ‘positive’ West Bengal Budget 2015-16

The Bengal Inc has hailed the budget of West Bengal Finance Minister Dr Amit Mitra and termed it as a forward-looking and positive one.

The industry bodies, including the Indian Chamber of Commerce, MCC Chamber of Commerce and Industry, Bengal Chamber of Commerce and Industry, Bharat Chamber of Commerce, CII and Bengal National Chamber of Commerce (BNCCI), have hailed the budget.

ICC director general Rajiv Singh pointed out that despite the huge debt burden, which will go up to Rs 2.99 lakh crore, the Finance Minister has been able to make fund allotments to almost all growth sectors of the state’s economy. It was commendable that the state GDP growth rate was much higher at 10.48% compared to the all India figure of 7.5%. “Over the last three years, the state has been able to double the plan expenditure which was a record increase,” he added.

Bengal Chamber of Commerce director general P Roy feels that it is a forward-looking and people-oriented budget with focus on social sectors.

Bharat Chamber president Sajjan Bhajanka congratulated Mitra for presenting a fairly-balanced budget which he feels aims at generating new infrastructure, preserving the existing infrastructure, boosting agricultural productivity of the state, giving greater emphasis on employment generation and ensuring transparent governance.

MCC Chamber president Arun K Saraf hailed the budget for simplicity and reform in tax system. “Assessment procedure has been simplified and tax refund has been made speedier and time bound,” he added.

Chairman of Universal Success, Prasoon Mukherjee, congratulated Dr Mitra for the thrust on green energy and tourism. “He has declared VAT concessions for green energy generation which is a prudent initiative. The budget has also put stress on new tourism circuit which is good for Bengal. We can present the state as an attractive tourism destination,” he added.

Patton MD Sanjay Budhia said that Dr Mitra has unleashed major tax reforms which will boost industrialization in Bengal. Chairman of Sarda Group, G Sarda, said that the Finance Minister has ensured thrust on employment and also tried to direct the state economy towards development.