Industry, trade hails budget, opposition gives thumbs down
The Union budget 2023 has evoked mixed responses from different sections in Jammu and Kashmir as the industry has hailed it terming it progressive and soothing for the common man, while opposition parties have called it a damp squib.
The opposition parties including National Conference, Congress and People’s Democratic Party gave the budget a thumbs down terming it a jugglery of words.
However, Bari Brahmana Industries Association (BBIA) has requested FM to provide adequate funds for the Development of Industrial Infrastructure in J&K, while the Chamber of Commerce and Industry (CCI) has stressed that traders were expecting big sops and provisions for giving a push to their businesses which is lacking in this budget.
BBIA has termed budget industrial friendly and beneficial for all sections of society of J&K. Lalit Mahajan, Chairman Federation of Industries, Jammu and president BBIA welcomed the proposals for the speedy Development of MSME Sector as well as for the corporate sector within the J&K and other parts of the Country.
BBIA has requested FM to provide the adequate funds for the Development of Industrial Infrastructure which includes the completion of Industrial Estates in time bound manner in J&K on priority basis enabling the prospective Entrepreneurs to start the production in time bound manner on the basis of 28,400 Crores Industrial Package approved by GoI for the Industrial Sector of J&K
CCI hailing the Union Budget termed it progressive and soothing for common man. CCI president Arun Gupta said that much sought after cuts in tax slab will definitely go a long way in comforting the people especially the middle class which was facing troubles in the past due to inflation and other compulsions affecting household budgets.
Gupta however said that the traders were expecting big sops and provisions for giving a push to their businesses which is lacking in this budget but overall the Finance Minister Nirmala Sitharaman has taken care of all sections of the society through a balanced approach and ensuring a trade-off between different entities.
PHDCCI Jammu has exalted the Union Budget. Rahul Sahai, Chair PHD Chamber of Commerce and Industry Jammu Chapter said Allocation of Rs 35581 crore for J&K is very appreciable.
Sahai firstly applauded J&K government good going in achieving of Capex targets and said that we are pleased to see the substantial 33% hike in the capex outlay at 10 lakh crore which is the highest ever, amount of all budgets
Congress has pointed out that there is nothing special for suffering J&K in the budget and there is nothing for poor, unemployed, farmers in the budget. The union budget has not brought any good news for the poor, unemployed youth, the farmers besides small traders, who are worst affected by the economic policies of BJP government, causing high inflation and unprecedented price rise, large scale unemployment besides farmers sufferings, said JKPCC.
Reacting to the Union budget, Congress has said that there is nothing in the budget for the unemployed youth, farmers and the poor people and small business class and the tourism industry, who are worst affected sections of the Modi government’s economic policies, of which Jammu and Kashmir is worst affected.
JKPCC Chief Spokesperson Ravinder Sharma said that the budget has no roadmap for dealing with rising prices, large scale unemployment and worst economic distress on the farmers, labour and poor people.
