Indian Chamber of Commerce (ICC) welcomes Union Budget

STAFF REPORTER

GUWAHATI: The Indian Chamber of Commerce (ICC) has termed the Union Budget as bold, growth oriented and historic one.

"By increasing capital spending by 34.5% over last year @ Rs 5.54 lakh crore, this budget aims at demand driven recovery in output and employment which is the need of the hour," an ICC communiqué stated.

The ICC has complimented the Centre for keeping higher fiscal deficit target of 9.5% this year and 6.8% for next year which would be funded through borrowings and disinvestment. Industry would like to thank FM for keeping the taxes more or less unchanged during these trying times.

The LaghuUdyogBharati, North Eastern Region haswelcomed the budget and praised the Finance Minister NirmalaSitaraman for giving benefit to health, housing and infrastructure sector. The budget will give boost to MSME's in long term & helping in employment generation.

"Tax holiday for Start-Ups extended to 31st March, 2022. Capital Gains exemption on investment in start-ups also extended to 31s March, 2022, will give boost to Make in India Vision of Hon'ble Prime Minister," the LaghuUdyogBharati stated in a press release.

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