BHUBANESWAR: Industries bodies of the state welcomed the Union Budget, terming it as forward-looking and growth-oriented, even as the small scale industries associations sought close coordination among all the stakeholders to ensure that the provisions are translated into tangible outcomes for MSMEs in Odisha.
Acting CII Odisha state council chairman and Essar Minmet Limited CEO Sashi Sekhar Mohanty said the budget has brought multiple benefits for Odisha. SNM group chairman and former CII Odisha state council head Pradipta Mohanty said, “Strategic importance given to manufacturing will boost industrial growth and create large-scale employment. Specific initiatives such as the cashew processing and coconut promotion schemes will directly support agro-based industries in the state.”
Utkal Chamber of Commerce and Industries Limited (UCCI) president Prabodh Mohanty said they were expecting a little more reform in income tax slab for the benefit of lower-middle class. However, it has brought many structural changes to move forward, he said.
Assocham Odisha state development council chairman Pankaj Lochan Mohanty said, “The Rs 12,200-crore transformation of National Waterway-5 and NW-64 will reduce logistics costs up to 30 per cent and create green cargo corridors for industry, MSMEs and farmers alike.”
Orissa Small Scale Industries Association (OSSIA) president Smarajit Mohanty said the initiatives aimed at improving access to credit, strengthening the Credit Guarantee framework, promoting technology upgradation, skilling and enhancing market linkages are welcome steps in the budget.
Odisha Industries Association chairman Abani Kanungo said, “Equity support by SME Growth Fund of Rs 10,000 crore will create new opportunity for MSMEs. Professional support ‘Corporate Mitra’ will help MSMEs meet compliances.”