KOLKATA: Business houses and industries have welcomed Bengal's state Budget for 2022-23 which was presented in the Assembly on Friday.
Terming the Budget as 'pro-people, pragmatic and progressive', Sanjay Budhia, Managing Director of Patton Group said that the state Budget successfully adopted multiple strategies to address many issues pertinent to overall development. The Budget reinforces and reiterates the continued emphasis on inclusive growth and development. Around Rs 10,000 crore allocated for Lakshmi Bhandar that truly reflects the human face of the Chief Minister.
"Exemption from Registration Fees and Road Tax of battery operated two-wheeler and four-wheeler electric vehicles ( BEV), and exemption from registration fee and road tax on all categories of CNG vehicles for the next 2 years are big incentives and attractions to shift to electrical vehicles thereby reducing pollution level," Budhia said adding: "Exemption of 2 per cent on stamp duty and 10 per cent rebate on circle rate of land/property for another 6 months up to 30th September 2022, will give the much needed boost to the housing and real estate." He further stated that waiver of agricultural income tax for the next financial year will leave more disposable income with the farmers which will be used for modernization and moving up the value chain from agri to agro industry.
Rishabh C. Kothari, president, Merchants' Chamber of Commerce & Industry (MCCI) applauded the State Budget. "The Budget is growth oriented people's Budget and an increase in allocation in almost every sector of the economy will drive growth in consumption, thereby enabling additional economic growth," Kothari
He further added: "The 8 times increase in budgetary layout will provide enough room to the state's human development index. The 10.7 times increase in the social service sector and 11.7 times increase in the agri and allied sector will give a special boost to the economy."