Industry not happy with the budget
The Bangalore Chamber of Industry andu00a0Commerce (BCIC) is disappointed with the interim budget. BCIC President N N Upadhyayu00a0spoke to MiD DAY and expressed his displeasure.u00a0
"The interim budget is a vote-on-account exercise. So you don't expect a good deal. But considering the current state of industry,u00a0and going through the disturbances the manufacture, textile and financial services are undergoing, the industry needs a stimulus," he said. u00a0
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"The industry and commerce minister Kamalnath hasu00a0been saying that the government would beu00a0providing a stimulus package. This was not given in the budget. After the election code of conduct is introduced the government would not be able to announce anything for another three to four months. Central government's ministry of labour has itself said that India has lost five lakh jobs in the last quarter. Inu00a0order tou00a0keep industries running, the government should have announced someu00a0stimulus," he said. u00a0
He added that the government's non-planned expenditure was three times more than the planned expenditure. He, however, listed out some good things in the budget like the increased allocation for drinking water, rural schemes andu00a0approval of 37 infrastructure projects.
"All this shows that the government wanted to please the aam aadmi," he said.
'No sops for demestic trade'u00a0u00a0u00a0
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