Saturday, 18 March 2017

CII (TN) welcomes Tamil Nadu Budget 2017-18



The Confederation of Indian Industry (CII) Tamil Nadu welcomed the Tamil Nadu Budget 2017-18 as growth-oriented with thrust on inclusive development.

In a statement, Mr. P. Ravichandran, Chairman, CII Tamil Nadu State Council, thanked the State Government for considering many of its recommendations, especially in the areas of infrastructure development in Tamil Nadu.

The Finance Minister’s announcement of allocation of Rs. 1,400 crores for the Smart Cities Mission is a welcome move. CII congratulates the Government for taking various measures towards improving the infrastructure and business climate in the State. Initiatives such as strengthening the single window clearance for starting new business, expansion of metro rail and plan for next phase, expansion of road infrastructure between Chennai and suburbs, plan for Investment Promotion Programme - Phase II, fund allocation for development of MSME sector, fund allocation for capital subsidy for industry were in the right direction.

Increased support to farmer producer organizations is a potential game changer if implemented well based on clusters, more impetus on cold chain infrastructure, backward integration and food processing policy will be advantageous for food processing sector. Budget is also addressing the water shortage issues. Replacing State Planning Commission with State Development Policy Council is a welcome move towards the development of the State.

CII has been focusing on entrepreneurship towards promoting growth and employment across Southern Region. The allocation of Rs. 150 crores to provide vocational training to youth in Tamil Nadu would help in addressing the employability of youth in the State.

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