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Jaipur industrialists’ mixed reaction to Union budget

Trade and industry in Rajasthan gave a mixed reaction to the Union budget presented by Union finance minister Arun Jaitley.

jaipur Updated: Feb 01, 2018 21:55 IST
HT Correspondent
HT Correspondent
Hindustan Times, Jaipur
Rajasthan news,Union budget,Confederation of Indian Industry (CII) Rajasthan
Businesspersons and industrialists in Jaipur watching the Union budget telecast on a news channel on Thursday.(HT Photo.)

Trade and industry in Rajasthan gave a mixed reaction to the Union budget presented by Union finance minister Arun Jaitley on Thursday.

Calling the budget “good” and “visionary”, Confederation of Indian Industry (CII) Rajasthan council chairman Basant Khaitan said, “The government has given emphasis on agriculture and healthcare.”

Federation of Indian Chamber of Commerce and Industry (FICCI) Rajasthan State Council chairman Ashok Kajaria termed the budget as balanced, focused and growth-oriented. He said extending corporate tax rate of 25% to industries with a turnover of up to Rs 250 crore will help the Ministry of Micro, Small and Medium Enterprises, which dominate the industrial landscape of Rajasthan.

“National Health Protection Scheme for covering 10 crore poor and vulnerable families (approximately 50 crore beneficiaries) providing coverage up to 5 lakh rupees per family per year is a giant leap forward in providing access to secondary and tertiary care hospitalisation to approximately 40% of our population,” he added.

FICCI Rajasthan State Council head Atul Sharma said that the thrust on agriculture and allied areas in the budget will usher next wave of growth.

CII, vice chairman Anil Saboo, too, called the budget growth oriented. Backing the budget, CII-Indian Women Network vice chairperson Sheenu Jhanwar said that in this union budget there has been the focus on healthcare. “The focus is on non-communicable diseases and mother and child, but I feel mental health should have also been included.”

Suresh Poddar, chairman and managing director of Mayur Uniquotors said Rs 1.48 lakh crore will be spent on railways in the rail budget, which is quite good. Giving thumbs up to the budget, Kamal Auto Finance director Shreyas Kasliwal said that last year it was about skill and this year it was about health. “It is good.”

“Proposal for developing 10 prominent tourist sites into iconic tourism destinations is a welcome step and we hope that a few of them would be developed in Rajasthan,” said Randhir Vikram Singh joint managing director of Mandawa Hotels Ltd.

However, not everyone was impressed with the budget. Rajasthan Khadya Padarth Vyapar Sangh chairman Babu Lal Gupta said that the budget was a big disappointment for the salaried class. “Tax slabs have not been changed, so the purchasing power of the common man will not increase thus flow in the market will be less,” he added.

Apra Kuchhal past chairperson of FICCI Ladies Organisation termed the budget as “disappointing”. “Announcements have been made, the budget has been allocated, but how it will be executed is a big question. There has been no specific announcement for women and the common man is not happy with the budget.”

First Published: Feb 01, 2018 21:55 IST