Union budget disappointing: K'taka Industry Minister

Bangalore, Feb 28 (UNI) Karnataka Large and Medium Industries Minister Katta Subramanya Naidu today felt that the central budget was 'very disappointing' and said it showed the Centre's failure in tackling people's problems.

Reacting on the budgetary proposals for the year 2007-08, Mr Naidu said that going by the proposals, it would be difficult to achieve the proposed target rate of 9.2 per cent GDP growth, while the budget was silent on power sector. Income Tax surcharge of three per cent was only given to income of over Rs one crore and not extended to others.

He said the centre had failed to mention remedial measures for rising prices of essential commodities and there was also no allocation of funds for development of infrastuctural facilities.

If this trend continued, it would lead to further increase in inflation, he feared.

He further said the tourism sector, which paves the way for huge employment opportunities was given only Rs 97 crore more, as compared to the previous budget. ''Is this enough to develop tourism in 27 states across the country,'' he questioned.

UNI