CII welcomes budget

Coimbatore, Feb 28 (UNI) The Confederation at Indian Industris (CII)Coimbatore Region, Chairman Jaasyakumar Ramadas today said the budget presented by Union finance Minister P Chidambaram was balanced.

He said the allocation to strengthen all the 1396 ITI's in the counry would help produce skilled workers for industries.

Indian Chamber of Commerce and Industries (ICCI) president D Balasundram said the pump industries had demanded removal of import duty for copper products. But in the budget, the finance minister has only reduced import duty to five per cent from the 7.5 per cent this was disappoiting.

Coimbatore District Small Scale Industries Association(CODISSIA) President Muthusamy said the small scale industries limit has been increased to just Rs 50 lakh from the present Rs one crore. The industries had demanded an increase of Rs three crore.

He said the finance ministry has not considered the demand to take into account investment and employment ratio.

He said the small scale industries were generating more employment than the big industries.

UNI