BCIC welcomes maiden budget of Yediyurappa

Bangalore, Mar 20: The Bangalore Chamber of Industry and Commerce (BCCI) today (Mar 20, 2006) welcomed the maiden budget of Deputy Chief Minsiter B S Yediyurappa and said he had kept the overall development of Karnataka in perspective and ensured that he got his basics right.

Welcoming the initiatives towards agriculture, education, women and girl child development, BCIC President Anant Koppar, in a release here, said the allocation of Rs 212.37 crore for the development of Bangalore, Mangalore and Hubli Airports, along with other cities like Shimoga and Karwar, and the Bangalore Metro Rail getting a priority would help attract investments. ''We also welcome the single unified e-procurement platform that has been planned as part of the fiscal reforms'' he added.

''However, we are disappointed that the budget did not touch upon some of the crucial aspects such as power reforms, infrastructure and development of tier II cities. His jugglery in the tax structure should have been more specific rather than a generalised tax change on commodities.

''We need to read the fine print to see the actual impact and implications on each of the commodities. Surprisingly there's no mention of SEZs, which should be one of the priorities to attract investments and accelerate further economic growth in the state and ease pressure and strain on Bangalore,'' he said.

UNI

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