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CII Kerala hails union budget Featured

Published in Corporate Sunday, 02 February 2025 17:34

 

 

Kochi: Corporate leaders representing various sectors in Kerala termed the Union Budget presented by Finance Minister Nirmala Sitharaman very positive and growth oriented. In an interactive session with select media persons they have highlighted the importance placed by the union finance minister in areas such as agriculture, MSME, Start-ups, innovation and investment.

 

The direction of the budget is towards the goal of Vikasit Bharat, said Vinod Manjila, Chairman CII Kerala State Council. "A very positive budget that takes care of the diverse sectors of the economy including agriculture, middle class, exports, startups and ease of doing business", he said.

 

Commenting on the budget Shalini Warrier Executive Director of Federal Bank said the finance minister has presented a growth-oriented budget with fiscal prudence in mind. "Keeping the fiscal deficit below 5 percent is commendable", she said, and added that "overall it is a very positive budget". Warrier also said that Kerala is in a position to take advantage of many of the proposals in areas such as agriculture, exports, etc. The decision to enhance FDI limit in the insurance sector from 75 to 100 percent is a positive decision. The measures to rationalize TDS and TCS are also welcome steps.

 

Shivadas B Menon, Managing Director, Sterling Farm Research & Services Pvt Ltd, said the budget provides a good opportunity for Kerala. The state has to devise ways to take advantage of the announcements made in areas like MSME, agriculture, Value addition exports and investments.

 

Ajay George Varghese, Managing director, Bipha Drug Laboratories Pvt Ltd,  talked about benefits to the MSME sector due to the hike in investments limits. The concessions announced to the startups will also benefit Kerala in a big way, he added. Mudra loans to homestay is another area of benefit for Kerala. Cities like Thiruvananthapuram and Kochi are well positioned to take advantage of the global capability centres planned in Tier-II cities.

 

Berly Cyriac Nelluvelil, Director, Medivision Scan and Diagnostic Centre said the decision to exempt 36 life-saving drugs from basic customs duty will provide a boost for the healthcare sector in the country. Another important step is the decision to increase the medical education seats by another 75,000  in the next five years, he said.

 

Yadu Narayanan Mooss, Director, Vaidyaratnam Oushadhashala said the steps announced in the tourism and healthcare sector will have a positive impact for the Ayurveda sector. The decision to give concessions to Visa fee for medical tourism will also benefit the ayurveda sector and Medical value Tourism in Kerala.

 

Santosh Kumar, Chief Executive, Harrisons Malayalam Ltd said the plantation sector in Kerala may benefit from the overall boost to the economy in the wake of the budget proposals.

 

Vivek Krishna Govind, Chartered Accountant, Varma & Varma said the budget is very positive with a definite feel good factor". The tax proposal likely to place nearly 1 lakh crore disposable income in the hands of tax payers is expected to provide a boost to consumption.

 

Nimisha J Vadakkan, Managing Director, Aceware Fintech Startup said the startup sector is likely to witness a big boost with the budget proposals. A fresh corpus fund of Rs10000 cr, deep tech fund and another five-year incorporation period for the startups are the three major measures to help the sector.

 

Reji Daniel Koshy, Vice President, ESAF Bank, said the importance placed on the agriculture sector will help for sustainable growth and prosperity.

 

Dr Nalanda Jaidev, CEO, Aster DM Health Care hailed the decision to exempt customs duty or 36 life-saving medicines used by cancer patients. He also welcomed the decision to open Day care Centres for cancer patients in every district hospital in the country.

 

 

 

Photo Caption: Vinod Manjila, Chairman, CII Kerala State Council, Salini Warrier, Vice Chairperson, CII Kerala State Council with select CII Industry leaders watching union budget presentation.

 

 

 

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