Bangalore, Mar 10 (UNI) The Bangalore Chamber of Industry and Commerce (BCIC) welcomed the 'emphasis on the development of human capital by further increasing investment in education, health and social welfare' in the state budget presented by Union Finance Minister P Chidambaram today.
In a statement here, BCIC welcomed the measures to improve farm productivity, the need of the hour as farm growth was crucial to maintaining economic growth.
''The BCIC is particularly happy about the initiative towards skill development.'' ''The State has again achieved a revenue surplus, which combined with limiting the fiscal deficit to three per cent of the State's estimated GSDP, is commendable.'' The BCIC welcomed the increase in outlay to the State's Annual Plan by 22 per cent and support to B-trac and creation of SPV on connectivity to BIAL.
However, one area of concern to industry was the state of infrastructure, which is proving to be a serious bottleneck for economic growth. ''It is disappointing that not much emphasis is laid on infrastructure either in terms of substantial outlays or better management on implementation.'' ''The inclusion of a special development plan to redress regional imbalances, all this without increase in taxes, is indeed praise-worthy,'' the statement added.
UNI SIV JJ 1933