Solan, March 17
Industrial associations have welcomed the setting up of an investment promotion bureau in the Budget. However, they rued that their key demands such as the abolition of double taxation and a dedicated freight policy were not met.
The Confederation of Indian Industry (CII) said the Budget was balanced having special emphasis on making the state ‘green’, besides paying the way for investment promotion.
Gagan Kapoor, Chairman, CII, Himachal Pradesh, said, “The announcements with regard to the Bureau of Investment Promotion and the New Industrial Policy are welcome steps for attracting investment. This will facilitate ease of doing business by expediting new projects.”
Similar sentiments were echoed by Dr Rajesh Gupta, president of the Himachal Drug Manufacturers Association. He said, “The move to give speedier clearances through this bureau was a welcome step.”
The Budget failed to address demands like abolition of double taxation, including state-specific levies. These demands were vehemently put forth by various associations, including the Baddi Barotiwala Nalagarh Industries Association, in a pre-Budget memorandum.
Kapoor said, “No relief has been given to the industry. Neither a scrap policy nor a freight policy, both of which were key issues of concern, has been announced.”
Most Read In 24 Hours
Don't MissView All
Punjab Police invoke NSA against five Amritpal associates, flag a possible ‘ISI angle’
IG Sukhchain Singh Gill said specialised units are involved ...
India calls in US Charge d’Affaires after pro-Khalistani mob storms San Francisco mission
India’s High Commissioner to Canada forced to cancel his app...
Hunt on for Amritpal Singh; his uncle, driver surrender in Jalandhar
The hunt for Amritpal enters the third day on Monday as the ...
Red Corner Notice against Mehul Choksi removed from Interpol database
Fugitive diamantaire Choksi had challenged CBI application s...
US report claims significant human rights issues in India
Annual human rights report of the State Department is a mand...