Lack of funds for Metro, airport upsets trade body

COIMBATORE: The Indian Chamber of Commerce and Industry here expressed its disappointment over non-allocation of funds for Metro Rail project and Coimbatore airport expansion scheme in the state budget for 2010-2021.

“The long-felt need of Coimbatore is the implementation of Metro Rail project for which no funds have been allotted. We also expected allocation of funds for acquiring lands for airport expansion project, which is long-pending and very essential for the development of Coimbatore. We reiterate our plea for speedy completion of the airport expansion project ,” said V Lakshmi na ray an as amy, president of ICCI, Coimbatore.

Thanking Deputy Chief Minister O Panneerselvam for presenting a tax-free budget, the ICCI president hailed allocation of Rs 500 crore for Athikadavu-Avinashi irrigation scheme, for which environmental clearance has already been obtained.

“Allocation of Rs 11,894.48 crore for agriculture department will boost agriculture activities and support the farmers. I also welcome the proposal for establishment of agro processing clusters in eight districts under Prime Minister’s Kisan programme,” he said.

Some of the other features welcomed by the industry body include the announcement for reduction in stamp duty for rent agreements under the new Tenancy Act from one per cent to 0.25 per cent and registration charges on such agreements from one per cent to 0.25 per cent subject to a maximum of Rs 5,000.

The industry body also welcomed reduction in stamp duty for rent agreements

Allocation of Rs 200 crore for labour welfare, allocation of Rs 2,500 crore for industry development, Rs 153 crore for IT communication, Rs 966 crore for free laptops and Rs 607 crore for micro small and medium industry are some of the appreciating features in the budget.

“By presenting a tax-free budget, the government has shown its commitment towards supporting the manufacturing and trading sectors. In total, the budget is a balanced one,” he said.