Industrialists expect more from Punjab Budget

Disappointed over the Union Budget, now the Industrialists from Punjab are pinning hope on the state budget, which is to be presented in the state Vidhan Sabha on March 14. The Industrialists expect the government to take proactive steps for boosting industrialisation in the state, besides addressing the problems of the Industries.

Speaking to Business Standard, Shawl Club (India) Amritsar, General Secretary, Piara Lal Seth, who also owns a shawl manufacturing unit said, “We want the government to withdraw the entry tax imposed on raw materials, as it is hurting the Industry and margins. Also, the government is providing subsidised power to agriculture sector, we demand in order to boost industrialisation in the state, the government should provide atleast 10 per cent subsidised power (of the total power it supplies to agriculture) to the Industries. We expect in order to attract the Industry, the government would take some steps.”

Expressing his views, CII Northern Region Former Chairman and Impact Projects Ltd Chairman Harpal Singh said, “I hope the state budget continues to focus on growth. In terms of government spending I hope the social agenda of the state and infrastructure obtain a larger share in percentage terms. It is further suggested that even in the social and Infrastructure sectors the government engages the private sector as it has the ability to assist both in the expansion of capacity and in the improvement of quality.”

“Also, in the education sector private sector participation could add a lot of value to the education system. What is required are a series of incentives to drive private investment, particularly in the secondary school and higher education sectors, to build capacity and to enhance quality. The time has come to experiment with multi-dimensional models that allow the core to stay within a not-for-profit paradigm but have a multitude of for-profit add-ons to improve outcomes,” he added further.

“I also suggest incentives for border regions in terms of reduced licence feed CLU (change in land-use) charges besides rationalisation of stamp duty from the current eight per cent,” he added.

Also, in their wishlist, the state exporters seek incentives. “We demand the government should offer road transport freight concessions of 25 per cent to the exporters as we have locational disadvantage compared to the states which are nearer to ports. Besides, the government should also provide land to the exporters at atleast 25 per cent cheaper than the designated rate in the industrial area. Further, we want the government should give 50 per cent concession on house tax to the exporters. Also, to boost the exports the government should revamp the infrastructure in the industrial area,” said Punjab Chamber of small exporters Vice-President Ashwani Kohli.