The maiden Union Budget of Narendra Modi government presented by Union Finance Minister, Arun Jaitley on Thursday has evoked mixed reactions from the industry bodies in the state. Though most of the industry associations termed the budget growth oriented, many felt Odisha, as usual, has handed out a raw deal in the Budget. "The Union Budget has broadly indicated a road-map for growth with thrust on a lot of reformatory measures. It also encourages both consumption and manufacturing.
However, while states like Assam, Jharkhand, Jammu and Kashmir (J&K) and north-eastern states have got a lot of allocations on different sectors, Odisha has been neglected though it is the second poorest state in India," said Binod Dash, Vice President (Commerce) of Utkal Chamber of Commerce and Industry (UCCI), the apex industry body of the state. Vineet Gupta, Co-Chair Yi (Bhubaneswar Chapter) welcomed the Centre's proposal for setting up of an Indian Institute of Management (IIM) in the state. Such centres of high excellence will boost the education sector in the state which is fast evolving as an education hub of the eastern region, he added. Similarly, CII Odisha State Council Finance and Taxation Panel convenor Arun K Sabat hailed the Union budget for raising the income tax exemption slab from Rs 2 lakh to Rs 2.5 lakh that will relieve the low income groups.