ICC lauds state Budget

KOLKATA: The Indian Chamber of Commerce (ICC) appreciated the tone of optimism that was set through the Bengal state Budget by reaffirming government's commitment to push forward with all vigour, the rising tide of well-being and prosperity for all.

"The budget clearly indicates, state's commitments to safeguard the lower income and vulnerable group of people from global adversities," a release issued by ICC read. As an industry body representing East and North East, ICC feels that focus on marginalised groups of people is a prudent measure. Similarly, the increase in "Expenditure on Agriculture & Allied Service Sector" by 10.50 times and in the "Physical Infrastructure" sector by 5.58 times are also well in direction, the industry body observed.

ICC also welcomed the proposal to extend the one-time exemption of motor vehicle tax and additional tax for the period from July 1, 2021 to December 31, 2021.

"The state government's proposal to allow relief to the registrant public by reducing the rate of stamp duty for registration of deeds affecting sale/ lease of land/house/flat is also praiseworthy," a statement from ICC read.