Industry bodies laud West Bengal Budget

Industry bodies on Monday hailed the West Bengal Budget for 2019-20 for its focus on farmers, social infrastructure and incentives for sectors like MSMEs, tea and healthcare.

Finance Minister Amit Mitra on Monday presenting a Rs 2.37 lakh-crore state budget with a Rs 9-crore deficit.

"The Government has achieved the dual feat of steering economic growth, as well as empowering the common people with continued support in social infrastructure," Bharat Chamber of Commerce president Sitaram Sharma said.

Though there is no special policy announcement for the industry at large, "we expect some big-ticket reforms at the ensuing 2019 Bengal Global Business Summit (scheduled for February 7-8)," he added.

Bengal Chambers of Commerce and Industry said the budget has given stress on farmers and the poorer sections of the society, as well as on MSMEs, tourism and the tea industry.

The MCCI said the full exemption on education cess and rural employment cess for tea gardens has been extended for two more years, which augurs well for the sector.

"Bengal government has given more emphasis to develop the MSME sector, and credit flow to this sector achieved 13 per cent growth to Rs 20,287 crore during April to September 2018, which is noteworthy," MCCI president Vishal Jhajharia said.

Medica Hospitals chairman Alok Roy added: "The budget has a definite and positive outlook for the future of the healthcare sector. The allocation of Rs 9,556 crore for the next fiscal year towards health and family welfare is indeed optimistic for the sector.