COIMBATORE: Industry bodies have expressed mixed reaction towards the budget. Some factors that were welcomed were increased in interest subsidy for loans to 5% in State Industrial Investment Corporation and plans to establish new SIPCOT.
President of Kovai Power Driven Pumps and Spares Manufacturers Association K Maniraj welcomed 70% subsidy for solar-powered motor pumps. However, he said there was no mention about establishing a new industry estate for Coimbatore-based MSMEs. “Similarly, our demands to convert electricity charges for SMEs consuming 10 HP power from III-B to III A2 has not been addressed,” said Maniraj added.