BHUBANESWAR: Industry and trade bodies of the State welcomed the Union budget 2021-22 presented by Finance Minister Nirmala Sitharaman on Monday, terming the proposals growth-oriented and industry-friendly.“The budget looks comprehensive and well thought through, which is expected to provide fiscal support for investment and consumption. Higher outlays for different sectors augur well, as does the fact that the quality of expenditure is also improving with more thrust on capital expenditure,” said Federation of Indian Chambers of Commerce and Industry (FICCI) Vice-President Subhrakant Panda.
FICCI Odisha chairperson Monica Nayyar Patnaik said the budget with focus on Atmanirbhar Bharat is very much growth-oriented and industry-friendly. “With Odisha aggressively showcasing its high investment potentials in various sectors and taking multiple initiatives to attract investors across the globe, the stress laid by the Union Finance Minister in the budget to improve Ease of Doing Business and encourage compliance will greatly support these initiatives,” Patnaik said.
Confederation of Indian Industry, Odisha, convener Dr AK Rath said the social sector reforms including enhanced allocation for the health sector, packages for the migrant labourers, low cost housing, liberalisation of taxation scrutiny, integrated public health laboratory in each district, expansion of Ujjwala scheme and higher allocation for rural infrastructure will take India forward and make the country really Atmanirbhar.
The Utkal Chamber of Commerce and Industry (UCCI), however, termed the budget below expectations. UCCI president Brahmananda Mishra welcomed the increased allocation of funds in health and infrastructure sectors but resented the lack of adequate provisions for industries. “Industries were hoping for enhanced credit flow, hassle-free working environment and rationalisation of GST,” Mishra said and added that nothing significant has been announced for the revival of hotel and restaurant industries, tourism as well as MSME.
The UCCI president also said that announcements made for Odisha in the budget have also not been satisfactory. On the other hand, welcoming the budget, Odisha Industry Association Chairman Abani Kanungo said the MSME sector has been taken care of in the budget with the declaration for reduction in custom duty and enhancing duty on export of products manufactured in the country. “In general, the budget looks great although the projected revenue receipts seem impossible in the existing pandemic situation,” he said.
Cuttack Chamber of Commerce general secretary Prafulla Chhatoi said the budget has tried to cover people from all sections of society. Although government has announced a series of measures for education, agriculture and health sectors, the price hike of petrol and diesel would ultimately lead to increased price of essential commodities, he stated.