Mixed reaction to Union Budget
The Hindu
Chambers welcome proposals, MSMEs not enthused
The Indian Chamber of Commerce and Industry has called the Union Budget 2022-23 a “great” one with clearly laid out target for fiscal deficit reduction. The 35% expansion in CAPEX spending is a good step. These are good numbers “considering the uncertain times we are going through”.
“For Kerala, the reduction in MAT rates to 15% and surcharge to 7% for cooperative societies is a welcome move considering we have many of them operating in the rubber, spice and other agri sectors.” The enhancement of ECLGS scheme outlay from ₹50,000 crore to ₹5 lakh crore may look like a ten-fold increase but it remains to be seen whether it will suffice for the MSME segment, which has been the most affected in the last two years.
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