Industry expects push for MSME in state budget

The Times of India

DEHRADUN: With Uttarakhand government all set to present its annual budget on Monday, industry players are expecting a push for infrastructure and MSMEs.

Fund allocation for MSMEs is highly sought as it will generate jobs and lead to faster growth. Another major expectation is more funds for building infrastructure, which is a key concern for investors coming to Uttarakhand.

While Speaking to TOI, Pankaj Gupta, president, Industries Association of Uttarakhand, said, “We are hopeful that the budget declaration will have allocation of funds for improving the infrastructure and MSMEs so that opportunities of sustainable self-employment increase. Government needs to take up aggressive steps to control rising migration and unemployment.”

While the state government had earlier announced to come up with 100 industrial estates (70 in hills and 30 in plains), industrialists are expecting an announcement of at least Rs 500 crore for the same.

Meanwhile, industry players are also hoping that taxes aren’t hiked in Monday’s budget. “For the state government, sand mining might have become a big headache but actually it is a gold mine, provided government exploits it scientifically and righteously. Also, government should materialize all hydropower plants through which it can garner 12% royalty without any hassle,” added Gupta.

“Government should reform its power policy and environment clearance issues which have become a pain for investors,” said Anuj Kumar Rawat, an entrepreneur. “A Robust platform for various industries should be laid through this budget in order to bring state’s economy on track and tackle unemployment issue,” said Gupta.

SOURCE: The Times of India