PHD Chamber of Uttarakhand chairman SP Kochhar has said that the Union Budget 2014-15 is encouraging on building consumers', investors' and general confidence and aims at enhancing growth, creating additional employment opportunities and containing inflation with the desired focus on garnering much needed investments, both public and private sector.
"A special State like Uttarakhand should get a special focus and the Centre should announcing green bonus. The key drivers of the economy here, the tourism, education and horticulture sectors need active support of the Central Government's support. The solar energy potential of the hills here is immense and the Government should include in its plan to commission new solar plants in the States. The State has not been able to grab benefits from various schemes at the center in past. JNNURM is one such scheme to quote."
"The State can take benefit from various national initiatives in this budget. Ten years' tax holiday for undertakings that generate and transmit power is appreciable. The much-debated slack in manufacturing sector will get boost from Investment allowance of 15 per cent to manufacturing companies investing Rs25 crore in plant and machinery. Aligned with other initiatives for industry and banking sector like venture capital fund of Rs10,000 crore, Rs200 crore for technology centre network, Rs550 crore for textile cluster, development of industrial corridors with emphasis on Smart Cities, new industry clusters will give an much needed impetuous to the growth," Kochhar said.
Steps undertaken to revive SEZs would help to rejuvenate the investment cycle and facilitation to manufacturing units to sell their products through retail and e-commerce would reduce the selling cost and benefit both manufacturers and consumers. The allocation for urban infrastructure earmarked at Rs50,000 crore work like catalyst in the growth.
"Productivity of the farm sector will be enhanced by increasing irrigation facilities and other provisions like development of farm markets, financial help to landless farmers and Kisan TV."