FICO reacts over Punjab Budget 2017; Says, many things neglected

Ludhiana, June 20, 2017: Today, Manpreet Singh Badal, Finance Minister, Punjab has presented budget for 2017-18, there was a great hope in industry regarding this budget, but this budget has failed to live up to the expectations, said Gurmeet Singh Kular President FICO.
Kular has highlighted few points which were totally neglected in this budget.

• There are no funds allotted to the industry for upgradation and upliftment, as we all know that cycle industry is the mother industry of Punjab, there is no technology upgradation fund for the industry in this budget.

• Ludhiana desperately needs an exhibition centre, but there is no declaration about the exhibition center in Ludhiana.

• There is no rebate for industry in charges of power connections. At the same time, electric bilt heater units and induction heat treatment units are put under power intensive unit category, which has directly increased the minimum charges and at the same time Rs.0.22/- per unit has been increased for such units.

• Hi-tech cycle valley project has been already passed in Ludhiana by previous government of Shiromani Akali Dal-BJP.