CII hails budget as industry and people friendly

Pondicherry, Aug 1(UNI) The Confederation of Indian Industry (CII), Pondicherry today described the annual budget 2006-07 presented by Chief Minister N Rangasamy yesterday as "industry and people friendly".

CII Pondicherry unit Chairman P Sekhar, in a statement here thanked the administration for accepting its suggestion in respect of assistance to CII Pondicherry Small and Medium Scale Enterprises SME) cluster project and the establishment of a permanent conventional centre for conducting exhibitions.

The CII assured the government that it would work closely with the government machinery.

Mr Sekhar said the establishment of infrastrucutre devleopment agency would go a long way in improving things. Port development also is important,he added.

He welcomed the support to the textile industry by way of modernization, the government's focus on IT based industries and measures to enhance the tourism potential of Pondicherry, among other things.

Regretting that the budget was silent on implementation of VAT, he hoped that this would be adressed in due course.

UNI PAB VV 1842