The apex industry bodies Associated Chambers of Commerce of India (ASSOCHAM) and the Confederation of Indian Industry (CII) hailed the Madhya Pradesh’s state budget for the year 2017-18 thereby terming it ‘balanced and growth-oriented.’
CII in its statement said that we congratulate finance minister Jayant Mallaiya on presenting a balanced state budget by considering demands of various stakeholders.
Allocation of budgets for infrastructure development of new industrial areas, IT Parks & skill development will certainly increase investment attractiveness & employment possibilities in Madhya Pradesh. However in terms of taxation, rationalization of Stamp Duty levied on corporate loan disbursement, limit enhancement & change of firm name could be done as per rates neighboring states to support existing industries & MSME’s of state.
Anshul Mittal, vice chairman CII MP state council and executive director, Mittal Appliances ltd., said that the budget is balanced and growth oriented.
ASSOCHAM termed the budget as aimed at striking perfect balance in agriculture and& industrial development, “Significant focus on agriculture which is the mainstay of MP’s economy together with initiatives like infrastructure development both in rural and urban areas, perking up irrigation facilities, improving access to higher and technical education, sprucing up power sector, thrust on
entrepreneurship and strengthening of law and order would further encourage State’s economic growth agenda,” said DS Rawat, secretary general of ASSOCHAM.
ASSOCHAM lauded State Government for presenting a measured budget which is likely to spur job creation, promote
infrastructure development on public-private partnership (PPP) mode and enhance agriculture sector performance.