“First Modi Budget Will Fathom Industrial development: Muslim Chamber of Commerce & Industry (MCCI)

Aligarh,11 July : First budget of Modi government presented by the Union Finance Minister Arun Jaitley wil not only give a positive direction to the business and industrial activities but also establish new mile stones in progress of the nation said Director Jasim Mohammad while chairing an analysis meeting on Union Budget – 2014 at Media Centre Aligarh by the Muslim Chamber of Commerce & Industry (MCCI).He pointed out that the provision of 37880 crore rupees for construction of 8500 kilometer road, Allahabad – Haldia National Waterways, reforms in electricity,aviation, gas sector and allocation of Rs. 500 crore to tourism industry are some of the budgetary provisions which will boost the national business as all these sectors are inter related with the economic condition of country.

Director of Sam Infra Construction Majid Ali Khan said that most important thing in the budget is that on one hand provision of Rs. 100 crore have been made for Ultra Modern Super Critical Coal based power generation and on the other Rs. 56706 Crore have bee earmarked for development of North Eastern region which will not only gallop industrial activities and business of concerned region but also fathom business of North and South to that region and it will further unite the country.

Vision Academia Publication’s Chairman Razaullah Khan  said that commitment made in the budget to achieve 7 – 8 % rate of development is in fact base of the infrastructure in country and so the Modi budget has extended the tax exemption in electricity and coal sector. He furthe pointed out that proposal for establishing 16 new ports , investment in agriculture , biological cultivation. National Multy Skill Progarrme and allocation of Rs.10,00 crore for SMI for small and cottage industry and Start Up are such steps which will positively push business activities up-ward.

Director of Alisha Publications Pvt Limited Nikhat Parveen the decision of the government to sell shares of the nationalised banks to public  will create an environment and inclination among public to invest directly in abnks which is th first condition of economic development.

Dental Association’s Secretary Dr. Naseem Ashraf said hat thee first time central government has allocated Rs. 200 crore for the development of the handloom industry which may bring it at par with international market as already there is great demand of handloom cloths in foreign countries. Another provision of the budget namely Backward Region Grant Fund aimed at developing industrial activities at Tehsil level will enable rural masses to have fruits of development in country.

In the last of meeting, MCCI welcomed the first Modi budget with hopes of positive and honest implementation. In another resolution, MCCI has demanded that the government should make some provisions for the development of the cottage industries in country.

Large number of industrialist and businessmen were present in the meeting apart of some other eminent social workers and economists.

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