CII Maharashtra welcomes maiden finance budget of BJP-led Maharashtra government

MUMBAI: Arup Basu, chairman, CII Maharashtra state council and president – New Businesses & Innovation Centre, Tata Chemicals Ltd said that the finance minister, Sudhir Mungantiwar’s announcement to launch the “Make in Maharashtra” campaign with focus on 25 sectors is a positive move and will boost investment flows and facilitate industrial expansion in the state.
The proposal to scrap LBT will call for an alternative arrangement from the state government to compensate for the loss of revenues for the local bodies. This step bodes well for the smooth introduction of GST from April 2016.
Chairman, CII Maharashtra said that the finance minister’s proposal to launch the Industrial Cluster Development Scheme is expected to boost industrial development in industrially backward areas. In addition to announcing measures related to industry especially textile, he has earmarked significant allocations for development of sectors like agriculture, education and skill development, tourism and infrastructure in the budget. Mungantiwar described Budget 2015 as having an agri-focus, which is apt going by the various proposals he has made around irrigation, repayment of loans, mechanization of agriculture. Under infrastructure, allocations have been made for projects pertaining to railways, roads, metros, airports, smart cities, model villages, housing and irrigation.