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Homechevron_rightKeralachevron_rightMinister Mani unhappy...

Minister Mani unhappy over lack of provisions for agri in budget

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Minister Mani unhappy over lack of provisions for agri in budget
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Thiruvananthapuram: Finance Minister K M Mani expressed unhappiness over lack of provisions benefiting the agriculture sector, especially pertaining to the state, in the interim budget presented Monday.

"Subsidy for rubber export was expected in the budget and we had looked forward for such an announcement in the budget reply speech of the Union Finance Minister in the Lok Sabha," he said.

Mani is leader of KC-M, the third largest partner in the Congress-led ruling UDF.

The minister welcomed reduction in excise duty rate of capital goods and consumer durables and said the decision would benefit the state.

He also welcomed the budget proposal to increase the tax allocation by Rs 1,632 crore to the state. He termed the interim budget as a one that focused on increasing domestic production and thrust for basic infrastructure development.

Meanwhile, Kerala Chamber of Commerce and Industry said the budget proposals gave hopes of a better fiscal ahead as it had put the focus of the economy on the development of basic infrastructure.

KCCI, in a statement, said the promise to generate 10 lakh job opportunities and allocation of Rs 162 crore for the Kochi Metro Rail project was welcome.

The slashing of the excise duty on several items, including cars and two-wheelers, would be a boost to the manufacturing sector and the absence of fresh tax proposals was also a great relief, KCCI added.

PTI

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