BADISH JINDAL: Punjab budget disappointing
Author(s): City Air NewsBadish Jindal. Ludhiana, March 20, 2013: FASII National President Badish Jindal reacting to Punjab Budget for next fiscal (2013-14) has said the Micro and Small Enterprises(MSE) Sector in Punjab are deeply and sorely...
Ludhiana, March 20, 2013: FASII National President Badish Jindal reacting to Punjab Budget for next fiscal (2013-14) has said the Micro and Small Enterprises(MSE) Sector in Punjab are deeply and sorely disappointed and disheartened over the Budget of the Government of Punjab presented by the Minister of Finance Parminder Singh Dhindsa in the floor of the Punjab Assembly.
He said though Punjab being the hub of the Micro and Small Enterprises, this sector has been offered no incentives in the Budget. It has been proposed to realise income from VAT from Rs.14,900 crores to Rs.20,000 crores. This signals that the government will impose more taxes which will aggravate the woes of the MSE sector at a time when inflation and recession are crushing the industries. It is also a matter of grave concern that no relief on the VAT front has been given to the auto parts industries as well as the package industries which at present are passing through a difficult phase. Further, the sector expected simple and streamlined procedures on the vat front. No proposal has been announced in this regard. Also, the MSE sector counted on the government for proposals to revive sick units. The Budget is totally blank in this regard, he remarked.
Further, he said a good majority of the industries are located in Ludhiana, adding to the industries’ dismay, a Trade Fair Centre and International Convention Centre have been proposed to come up in Amritsar and Mohali, respectively. This shows the political bent of mind and callous attitude of the government to the industries.
On the whole, the Budget of Punjab Government has been solely played to gallery rather than boosting industries. It is purely a political budget framed keeping an eye on the upcoming parliament elections.