[ Date : 2011 Aug 4 ]
The Indian Chamber of Commerce and Industry, Coimbatore welcomes the trade and industry friendly budget - free from taxes presented by the Hon'ble Minister for Finance, Government of Tamil Nadu.
We sincerely appreciate the motherly care of our Hon'ble Chief Minister for free supply of uniform and footwear to school students.
On behalf of the people of this region we thank the Hon'ble Chief Minister of Tamil Nadu for making following innovative announcements in the budget.
* The proposal to constitute a Price Stabilization Fund with an initial corpus of Rs.50 crore for procurement of essential commodities which will help to sell the items at cost price to the consumers through co-operatives.
* The proposal to introduce a new Industrial Policy 2011 besides formulating sector specific policy for automobiles and auto components, bio-technology and pharma.
* The proposal to constitute the Tamil Nadu Infrastructure Development Board under the chairmanship of the Hon’ble Chief Minister - we hope will certainly fulfill the required infrastructure facilities for the Coimbatoreans.
* The proposal to introduce a new land acquisition policy by adopting innovative methods will definitely protect the interest of land owners and also make available lands for creating industrial parks and infrastructure.
* The proposal to give additional incentives to encourage investments under the MSME sector will generate more employment opportunities.
* We also welcome the credit and technology support with a total outlay of Rs.100 crore during 2011-12 for promotion of export oriented coir and jute based industries.
* Announcement for starting 10 new ITIs for improving the knowledge base of the students particularly poor and downtrodden communities will reduce the skilled manpower shortage.
* To bring out a new Information Communication Technology Policy 2011 and also the announcement that action is being taken to start operations from the existing IT parks in four districts particularly in Coimbatore will create more employment opportunities in IT sector.
* The welfare schemes announced in the budget for traders and introduction of e-governance in Commercial Taxes (CT) administration and also to upgrade the software and hardware systems in CT department will enhance the service quality in tax administration and also result in greater revenue mobilization and arrest tax evasion. It is a boon to honest tax payers.
* Introduction of 'Samadhan' scheme w.e.f. 1st Oct 2011 will help the assessees to pay off their old arrears.
* The budget announcement stepping up Rs.7.5 lakhs with 30% subsidy without upper ceiling to promote the self employment ventures of Adi Dravidar individuals is a welcome measure.
Our Chamber thanks the government for considering the representation made in the pre-budget meeting. We also pledge our unstinted cooperation to the Government in all their endeavours that are taken for the development of trade and industry and the welfare of the common man.
- M. Krishnan, President