Union Budget: Mixed reactions from MP business community

The reaction of the business community in Indore in Madhya Pradesh to the Union Budget was mixed with some claiming it did not do enough for MSMEs while some praised it for sizable allocation in the agriculture sector and moves to boost consumption.

The Union Budget was presented in Parliament on Saturday by Union Finance Minister Nirmala Sitharaman.

"MSME sector is not fully satisfied. However, budget provisions expected to increase the purchasing power of people and government spending on different projects will benefit our region," Pramod Dafaria, Association of Industries of Madhya Pradesh (AIMP) president told PTI.

"The Budget has made big provisions for agriculture and rural sectors. This will help operations like soyabean processing industries," said Soybean Processors Association of India (SOPA) chairperson Devish Jain.

Jain said the sizable budgetary allocation for nutrition (Rs 35,600 crore) was also a good sign as soyabean products are a big source of proteins.

Pithampur Industrial Organization president Gautam Kothari termed it an "average budget" which had no "direct roadmap" to overcome slowdown or generate income and employment.

"The reflection of the government's declining revenue and financial uncertainty is clearly visible in this budget," he added.

Ramesh Khandelwal, president of Ahilya Chamber of Commerce, called the budget a disappointment.

"We do not think the budgetary provisions will end the slowdown in the traditional market. The government should have taken more measures to increase cash flow and capital in the market," Khandelwal said.