Forward Looking, people-oriented Budget but impact on large industry remains unanswered
The Bengal Chamber of Commerce and Industry (BCC&I) welcomes the State Budget 2015-16 as it is people friendly with focus on social sectors and social spending although the source of funds for16% additional spending remains opaque.
The Budget primarily stresses on the development of MSMEs and small businesses. It, however, is not transparent how the Budget plans to approach the large industry even if the Finance Minister had announced a whopping industrial investment proposal of Rs 3 Lakh Crore. What is especially interesting in the Budget is the endeavor to streamline tax proposals and provide relief to almost 20 thousand small businesses. A three months voluntary disclosure scheme to provide amnesty to business community will raise their level of confidence level.