The Bengal Chamber says the Union Budget is an exercise in pragmatism
Kolkata, July 5 (IBNS): BCC&I (Bengal Chamber) views the Union Budget 2019-20 as an exercise in pragmatism towards a 5 trillion dollar economy by 2024 with a ten point vision for the decade by simplifying procedures, incentivizes performances, reducing red tape and making best use of technology through acceleration of mega programmes and services.
On behalf of the Bengal Chamber, President Indrajit Sen, said the Budget " takes necessary steps which include opening up sectors like Media, Aviation, and Insurance. It also focuses on Zero based budgeting in agriculture sector along with 25% reduction in corporate tax rate for companies with annual turnover up to 400crore. Legacy dispute resolution scheme for old service tax and excise are significant features of this Budget."
"The Budget also focuses on faster adoption of electrical vehicles, plans for affordable housing, women empowerment, ease of living, social welfare, education and pensions with additional thrust on growth, infrastructure and markets. Emphasis has been given to MSMEs, entrepreneurship and relief for Start up growth. Setting up of Social Stock Exchange is also a unique thought. The Budget has also taken steps and measures related to Recapitalization of Public Sector Banks and proposal to strengthen regulatory authority of RBI over NBFCs," said Sen.
BCC&I gives the Budget 5.5 on 10.
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Keywords: UnionBudget2019,TheBengalChamber,Kolkata
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