Will TN Budget stand up to industries’ expectations?
According to Tamil Nadu Covid Pulse Survey, a major impact of the lockdowns was job and livelihood loss.
Published: 12th August 2021 03:36 AM | Last Updated: 12th August 2021 03:36 AM | A+A A-
Tamil Nadu finance minister PTR Palanivel Thiagarajan. (Photo | P Jawahar, EPS)
CHENNAI: The focus of the State budget, industry bodies say, should be on healing the damage that the pandemic inflicted on industries. Demand creation and driving investments should also be given importance, they said. Chairman of the Tamil Nadu unit of the Confederation of Indian Industry (CII), Dr S Chandrakumar, said the budget should facilitate creation of demand in stressed sectors like retail, hospitality, tourism, and textiles, for a quick revival of the economy.
According to Tamil Nadu Covid Pulse Survey, a major impact of the lockdowns was job and livelihood loss. The survey was designed as a joint initiative of Madras Institute of Development Studies (MIDS) and the Department of Economics and Statistics (DoES) to assess the impact of Covid. The Federation of Indian Chambers of Commerce & Industry (FICCI) wanted the State government to open up rail and power businesses further to ensure faster connectivity and better operation.
Stating that any monopoly for a long period is certain to cause problems in operation and consumer service, FICCI suggested the government to let out electricity distribution to promote businesses within the ambit of existing laws, instead of confining the job to a single State-owned entity. “Allow rails to be laid and owned by private parties. Framing of rail rules that would co-exist with roads would help bring quick transportation” FICCI suggested. The CII also wanted the government to focus on skill development to prepare the younger generation. CII (Tamil Nadu) Vice Chairman Satyakam Arya wanted the government to introduce initiatives targeting southern districts to boost local industries.
