V. Nagappan, President, Hindustan Chamber of Commerce, said that the proposal to extend the Revised Credit Guarantee Scheme for Micro, Small and Medium Enterprises and to provide relief to units affected by the epidemic Union Budget 2023-24 is in the right direction. “Reduction in interest to 1% for MSMEs will further boost their growth and allowing payment to MSMEs as “allowable expenditure” only when the actual payment is made by corporates is a welcome move as it will help large companies to fulfill their commitments” Will enable us to respect that,” Mr. Nagappan said.
“Overall, we feel the budget is development-oriented without compromising on fiscal responsibility or sustainability,” said TR Kesavan, president of the Madras Chamber of Commerce and Industry. The Chamber always talks about Ease of Doing Business. Decriminalizing over 3,400 legal provisions, adoption of PAN as a common identifier for all digital systems and unified filing process are the right measures, he said.
Chozha Nachiyar Rajasekhar, president of The Tamil Chamber of Commerce, informed that no announcement has been made on specific projects for Tamil Nadu. “I don’t see anything specific to Tamil Nadu, but the announcements related to start-ups, MSMEs, Unity Mall and skill development will benefit us like other states,” said CK Ranganathan, former president of CII Southern Region.
Sasikumar Gendham, Managing Director, Salcomp India, said, “This budget provides a clear vision towards increasing investments in infrastructure, youth skill development/employment, green growth. While status quo has been maintained for the electronics sector, the mobile phone And a small respite being provided for certain segments of television is a welcome move. VN Shiv Shankar, vice-chairman of Sikkim, said, “Being a first in the ambrosia period, it gave positive signals for many new-age industries Huh. “It is indeed welcome that the government is giving a lot of importance to green development – which is vital to achieve self-reliance,” Mr. Shankar said.
Andhra Chamber of Commerce President VL Indira Dutt said that Spectrum 5G labs with emphasis on artificial intelligence will create more opportunities for tech professionals globally. CA Amrit Lal, Convener, FICCI Tamil Nadu Finance and Taxation Panel, said the budget has taken care of the hardworking and middle class in the form of tax relief under the old and new tax regimes.
s. Vaidyasubramaniam, Vice-Chancellor, SASTRA Deemed University said that as an academic, this year’s report card is distinctive for the digital focus on both next-generation technologies at the top and skilling at the bottom. He said that there are clear indications of inclusiveness in human capacity building.
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