Punjab Budget 2016-17 a Boon for Industry and Farm Sector: CII

By 121 News

Chandigarh 15^th March:- The Confederation of Indian Industry (CII) has welcomed the growth-oriented and balanced Punjab State Budget 2016-17 presented by the Punjab Government today.

Sandeep Jain, Chairman, CII Punjab State Council and Executive Director, Monte Carlo Fashions Ltd. said that the allocation of Rs 223 crore for the industry with Rs 100 crore for start-ups and Rs 10 crore for the construction of the working women hostels is an encouragement for all industrial players in Punjab. However, we would request the government to extend the facility to all working groups irrespective of gender which would enable all citizens of the state to maintain healthy living conditions. This will also be in line with PM's Swach Bharat Mission.

Gurmeet Singh Bhatia, Vice-Chairman, Punjab State Council and Managing Director, Ajooni Biotech Pvt Ltd. said that setting up an Industrial manufacturing cluster in 200 acres in Rajpura, development of two Mega Food Parks near Ludhiana and Phagwara and a High Tech Cycle Valley in Ludhiana will not only boost local industries but will also bring in new investments in the state. In addition, providing power @ Rs 4.99/unit to all new investments for a period of five years from the date they attain commercial production is a step in the right direction to promote the growth of small and medium enterprises. Also, it will be encouraging to see amendments in the state procurement policy to enable the state government, board and corporations to purchases locally manufactured goods.

Pikender Singh, Regional Director, Northern Region Headquarters said that it is critical for every state to ensure social equity and rightful development of all its citizens. This Budget with announcements like the Rs 100-crore 'Farmers Provident Fund-cum-Pension Scheme', interest-free crop loan of Rs 50,000 per crop to small and marginal farmers, Rs 70 thousand crore to empower women, affordable housing to low income and middle income classes, allocation of Rs 505 crore for the youth will ensure all-round development of the citizens of the state. We also support the budget allocation of Rs 40 crore to the employability allowance of Rs 1,000 per month to the youth.