CHENNAI: Tamil Nadu Small and Tiny Industries Association on Thursday said there was no new scheme or incentive for MSMEs in the interim union budget and credit-linked subsidy for technology was not considered.
In a statement, TANSTIA said corporate tax for micro industries should have been brought down to 15% from 25% for private limited companies and 30% for proprietorship.
Meanwhile, S Sivagurunathan, President, CREDAI Chennai, said the budget prioritised socio-economic growth.
This commitment shines through various key initiatives, he added. Sudarshan Venu, managing director, TVS Motor Company, said, “The emphasis on homes for the middle class and expansion of women self-help groups shows the government is committed to development across the board, even as it encourages investment in sunrise sectors and technology. For the automobile sector in particular, the continued infrastructure spending with the push to develop the EV ecosystem is exactly what the industry needs.”