Chennai, Mar 18 (PTI) The budget presented by Tamil Nadu Finance Minister Palanivel Thiaga Rajan gives special focus in certain critical areas and broad-based approach in social sectors that would enable holistic development of the state, industry body MCCI said on Friday.
Madras Chamber of Commerce and Industry (MCCI) President Srivats Ram said the development of new industrial parks and micro industries’ clusters in a number of districts would help in moving towards a broad-based development across the state.
“The execution of Port-Maduravoyal corridor, the Chennai-Kanyakumari industrial corridor, other development corridors will give a boost to industrial growth and exports,” he said in a statement.
The chamber also lauds the plan to take over losses incurred by the state electricity board Tamil Nadu Generation and Distribution Corporation (TANGEDCO) to the extent of Rs 13,000 crore to ease the burden of the debt-ridden state utility.
While allotment for the credit guarantee scheme is a welcome move to help micro, small and medium enterprises (MSMEs), the earlier shortcomings of the scheme also need to be addressed to make it more effective, he said.
“The broad-based approach in social sectors like healthcare, water and sanitation, education, housing will enable a holistic development of the state,” he added.
Meanwhile, Hindustan Chamber of Commerce President K Suresh said the budget was growth oriented and added the trade chamber welcomes the government’s decision to allot Rs 30 crore to Tamil Nadu Start-up and Innovation Mission (TANSIM) to encourage SC and ST entrepreneurs.
“HCC welcomes the Rs 911 crore allocated for medium and small scale enterprises, improving ease of doing business not just for global corporates but also for MSMEs,” he said in a statement.
The allocation of Rs 500 crore to Chennai would attract more tourists and investors, he said. PTI VIJ VIJ HDA HDA
