The 'Chhattisgarh Budget 2016-17' is well-balanced and comprehensively addresses all aspects that industry was looking for with the focus on Infrastructure, Social and Agriculture sectors, Mahendra Agrawal, Chairman, Confederation of Indian Industry (CII) Chhattisgarh State Council stated.
He especially lauded the State Government for announcing a major tax relief for the State’s steel industry, reduction in the VAT rate on iron ore, pig iron, sponge iron, iron ore pellets, ingots, billets and ferro-alloys from 5% to 2%. which is a positive step towards promoting 'Ease of Doing Business'.
The allocations for agriculture and the rural economy are particularly noteworthy, special incentives to agricultural sector to boost the morale of the farmers in Agro industry, he said.