Industry chamber terms Budget dynamic

Chandigarh, February 1

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Industry chambers in the city welcomed the Union Budget 2020 announced by Union Finance Minister Nirmala Sitharaman.

Sameer Gupta, Chairman, CII, Northern Region, said, “Many of our recommendations have been incorporated in the Union Budget 2020-21. Some of these include enhancing farmers’ income, availability of piped water for all, balancing the use of fertilisers and encouraging greater use of solar energy.”

He said scrapping of the dividend distribution tax (DDT), as laid in the Budget, was a welcome step and also in line with the CII recommendations.

The CII also complimented other announcements such as seamless national cold supply chain for perishables, setting up of ‘Kisan Rail’ through public-private partnership, incentivising farmers to go solar and addressing water problem among others.

Dr Ashok Khanna, former president, PHD Chamber of Commerce and Industry, stated that the move to amend the Companies Act to end tax harassment by decriminalising non-compliance would infuse trust in the investors. The abolition of DDT met the long-pending demand of the industry, he added.

RS Sachdeva, Mentor, Punjab chapter of PHDCCI, said it is a good budge. The announcement that urban local bodies would provide internship to young engineers and medical colleges would be attached with district hospitals on the PPP mode would create skilled manpower. — TNS