VARANATION: Union 2022 Budget is referred to as a vision for long-term development instead of the budget prepared considering the assembly polls by many temporary industrialists, especially in micro, small and medium enterprises (MSMEs), feel that no attention is paid for the provision of subsidies for Industrial export-oriented is locked in the east region and above.
All eyes were stored at the Union Budget-2022 submitted by Minister of Finance Nirmala Sitharaman in the morning parliament.
India Industry Association – APEX MSME agency – also invites officials and income tax experts, GST, Bank, Industry, Charter Accountants and Tax Practitioners to watch Telecast directly from the budget and discuss them.
National Vice President Iia RK Chawdhary said, “It is not ‘Chuna budget (populist budget in the view of assembly elections in five countries)’.
But, the expectations of MSMEs, economic backbones, ignored.
We expect subsidies, especially for UPME in the Eastern Conference because they are confined to Mainland Overseas it becomes difficult.
“The participants also hoped for tax discounts for older industrial sector players and owners like new companies.
They said that the eastern region was full of resources including skilled workers’ infrastructure, roads, trains and waterways but because MSMEs did not get the desired support for growth it was not proven possible while the migration of skilled workers would also continue.
On the other hand, geographical indication expert (GI) and Padma Shri Dr.
Rajnikan claims that this budget will clear the route to take local products to the global market by making a country that depends on yourself.
He said that this budget will increase craftsmen, weavers, women and farmers as purchasing fabrics, leather, handmade goods and crafts will increase.
President of the tourism welfare association Rahul Mehta welcomed the introduction of 400 Train Vande Bharat in three years, e-passport.
However, there is no direct tax rebate given to the tourism sector, which is expected by the industry, he said directing him as a setback for the tourism sector.