Kerala Industry welcomes Union Budget 2014-15


Trivandrum: The Confederation of Indian Industries, Kerala, has welcomed the Union budget 2014-15 presented by Union Finance Minister, Shri Arun Jaitley and termed it a forward looking and development oriented.

Interacting with the media after a Budget viewing session, V K Mathews, Executive Chairman, IBS Software Services called the Budget positive but subtle and flavourless. The focus was on improving execution and removing bottlenecks. The e-Biz platform is a very good move as it would reduce project delays and litigations. He added that most recommendations of CII have been incorporated but certain demands of Nasscom with respect to the IT industry have not been met. There were no export promotion measures for the IT industry.

Nandakumar K, Chairman, CII Thiruvananthapuram Zone and President & CEO, SunTec Business Solutions said while there was nothing specific for the IT industry to cheer about, the budget proposals would give a good boost for SMEs and Startups, especially product companies. This was yet another opportunity for Kerala in creating an ecosystem for entrepreneurship.

Thomas John Muthoot, Vice Chairman, CII Thiruvananthapuram Zone & CMD, Muthoot Fincorp termed the budget commendable as it would give the much needed push and tax incentives to the real estate sector with special focus on affordable housing. The budget would further promote the tapping of non-conventional energy sources.

E M Najeeb, Chairman, The Great India Tour Company said the budget was good for the tourism sector and the Finance Minister has partially recognized the industry’s longstanding demand for export industry status.

Dr. K Pratapan, Director, State Horticulture Mission expressed his disappointment that Kerala was not considered for organic farming initiatives but added that the overall impetus to agriculture was good.

Joy Oommen, CMD, Kerala Financial Corporation said that banking reforms, good signals about building infrastructure and stress on national capacity building were the positives. The proposal to support startups and entrepreneurship funding will boost Kerala’s economy.

Development focused budget from a healthcare industry perspective, said Dr. M I Sahadulla, CMD, KIMS. Simplifying and rationalising certain policy matters with focus on e-governance, change of accounting standards will help the industry in a long way.

About 20 senior Office Bearers of CII and head honchos from various sectors were present to view the budget presentation and to share views and comments.

Anil Philip
Kerala Biz News


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