Traders seek more outlay for industry

Amritsar, February 16

Industrialists and traders want competing political parties to announce business outlay to be increased in the state Budget. They feel leaders are missing on this point while canvassing.

Piara Lal Seth, president, Punjab Pradesh Beopar Mandal (PPBM), said the government could create jobs in the market if it decided to increase its outlay for commence and industry in the budget to Rs 2,500.

The government can create jobs in the market if it decides to increase its outlay for commence and industry in the Budget to Rs2,500. Rs100 crore was earmarked out of Rs39,000 crore in the 2015-16 state Budget, which rose to Rs183 crore in the Budget for 2018-19. —Piara Lal Seth, PPBM chief

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He recalled Rs 100 crore was earmarked out of Rs 39,000 crore in the 2015-16 state Budget, which rose to Rs 183 crore in 2018-19.

Successive state governments have been ignoring the textile policy. The state has two major textile hubs in Ludhiana and Amritsar. “The textile policy was unveiled by the government in 2006,” said Seth.

According to another industrialist SK Wadhwa, the state was facing problems such as Rs 3,100-crore draft limit for purchase of wheat and paddy, unemployment, increasing water crisis, drug menace and environmental issues. To address these issues, the state needed to make structural changes, he said.

“The government can split its debt in two parts — accumulated and current. Then it can set a long-term framework for servicing the accumulated debt and manage the current with the revenue receipts. It should bring up manufacturing hubs to meet the problem of joblessness by allocating more funds for trade and industry.”