‘State Budget pragmatic and progressive’

Kolkata: Terming the state Budget “pro-people, pragmatic and progressive”, Sanjay Budhia, MD, Patton Group, said that the financial statement “very successfully adopted multiple strategies to address many issues simultaneously pertinent to overall development”.

He said the new policy for conversion of leasehold land to freehold land on payment of conversion fees and announcement of an on-line grievance redressal system developed for industry / business, including setting up of a call centre will immensely help in the ‘Ease of Doing Business’.

He stated: “Government’s assurance on re-visiting to repeal Urban Land Ceiling Act is like music to the ears and is eagerly awaited. Announcement of maximum stamp duty of Rs 1000 as against the present rate of 0.5 per cent for registration of property under Gift within family is a much needed relief.”

He added: “Interest subvention for loan up to Rs 5 lakh granted under Bhabishyat Credit Card Scheme at 4 per cent will ignite entrepreneurship.”