Chamber welcomes Tamil Nadu budget
The proposal of disbursement of crop loans of Rs 1,500 crore and reduction of interest on crop loan from five to four per cent would give an additional fillip to agricultural sector.
By PTI |
COIMBATORE: The proposal of disbursement of crop loans of rs.1,500 crore and reduction of interest on crop loan from five to four per cent would give an additional fillip to agricultural sector, the local chapter of Indian Chamber of Commerce and Industry, said on Friday.
Welcoming the Tamil Nadu budget presented yesterday, the chamber president, D Balasundaram said in addition to the crop loan, other developmental loans should also be disbursed at the same percentage and Government should provide subvention of interest for the loans extended by scheduled banks as well.
Other welcome measures in the budget included insurance scheme for the farmers, cold storage facilities in Uzhavar Sandhai, 25 per cent subsidy for the farmers for purchase of agricultural machinery and scheme of recharging ground water at a cost of rs.550 crore, he said.
Besides, provision of rs.312 crore for school buildings, rs.2816 crore for improvement of roads and bridges, rs.1720 crore for power projects and river linking projects to the tune of rs.534 crore would improve agricultural activities along the Cauvery and Tamirabarani basins, he said.
The concessions extended to business community under VAT were a welcome measure, Balasundaram said adding the proposal to bring out an 'one time settlement scheme' for arrears under TNGST Act upto the year 2001-02 should be extended upto December 31, 2006.
Welcoming the Tamil Nadu budget presented yesterday, the chamber president, D Balasundaram said in addition to the crop loan, other developmental loans should also be disbursed at the same percentage and Government should provide subvention of interest for the loans extended by scheduled banks as well.
Other welcome measures in the budget included insurance scheme for the farmers, cold storage facilities in Uzhavar Sandhai, 25 per cent subsidy for the farmers for purchase of agricultural machinery and scheme of recharging ground water at a cost of rs.550 crore, he said.
Besides, provision of rs.312 crore for school buildings, rs.2816 crore for improvement of roads and bridges, rs.1720 crore for power projects and river linking projects to the tune of rs.534 crore would improve agricultural activities along the Cauvery and Tamirabarani basins, he said.
The concessions extended to business community under VAT were a welcome measure, Balasundaram said adding the proposal to bring out an 'one time settlement scheme' for arrears under TNGST Act upto the year 2001-02 should be extended upto December 31, 2006.
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