Saturday, 18 March 2017

TANSTIA hails most of TN Budget proposals

In a press release issued by its President, Mr. C. Babu, the Tamilnadu Small & Tiny Industries Association (TANSTIA), has welcomed the major announcements made in the Tamil Nadu Budget for 2017-18 presented by the Finance Minister, Mr. D. Jayakumar. The important proposals welcomed by it included strengthening of the single window system, formation of a committee to ensure timely clearances, special package of assistance to attract investments to the southern districts, implementation of the Madurai Thoothukudi Industrial corridor, creation of exclusive land bank of 3,957 acres, allocation of Rs. 75 crores to conduct the next Global Investors Meet, establishment of aero space on 268 acres of land in Vallam Vadagal SIPCOT Industrial Estate, Kancheepuram, at an estimated project cost of Rs. 350 crores, establishment of a Plastic Industries Park in Ponneri taluk of Tiruvallur district by TIDCO in association with SIPCOT at an investment of Rs. 264 crores, approval for establishment of Medi Park Project at an estimated cost of Rs. 130 crores, and the doubling of capital subsidy from Rs. 80 crores to Rs. 160 crores.

TANSTIA has also hailed the Budget incentives for establishment of a special project to develop product-specific integrated MSME clusters in four locations – Kancheepuram, Karur, Dharmapuri and Ramanathapuram; development of the three product clusters, one each at Negamam, Boodalur and Erode with a total cost of Rs. 22 crores; provision of 50 per cent grant subject to overall limit of Rs. 5 crores to MSME associations for setting up of Trade Facilitation Centres at Madurai, Salem and Trichy; launching of special export promotion and marketing support scheme; conduct of international exhibition with Buyer-Seller Trade Meet annually; launching a special scheme to promote energy efficiency in MSME units; setting up of three quality control and testing labs in SIDCO estimates; and conduct of detailed study to assess the cause for the closure of MSME units sectorwise and examine the possibility of supporting the revival of MSME sector in the State.

TANSTIA has, however, resented that there are no specific announcements made in the Budget for women entrepreneurs. For the existing entrepreneurs, there are no fresh announcements for the made in the Budget about the scheme and assistance for their survival. It also resents that 30 per cent land subsidy through TANSIDCO requested by TANSTIA has not been considered in the Budget.

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