Panaji: The announcement by the Finance Minister in her budget speech extended to MSMEs to the tune of Rs 15,700 crores which is double compared to the last year’s budget comes as a big relief to the MSMS’s, Confederation of Indian Industry’s Goa Council said on Monday.
CII Goa Council Chairman Blaise Costabir, reacting to the Union Budget, said that announcement by the Finance Minister in her budget speech extended to MSMEs to the tune of Rs 15,700 crores which is double compared to the last year’s budget comes as a big relief to the MSMS’s.
“This will boost the MSME development. CII Goa welcomes this particular announcement,” he said.
“With the manifold increase in digital payments, CII welcomes the 1500 cr scheme to promote digital mode of payments,” Costabir said.
He said that this would further give an overall boost to digital transactions. “CII also welcomes announcement of legislation on Higher Education Commission in the coming financial year which would help enhance the overall education framework in the country,” the Chairman said.
The confederation has also welcomed the allocation of Rs 50,000 crores for National Research Foundation for over 5 years, which will strengthen the overall research ecosystem.
He said that focus would be on identifying national priority thrust areas. CII commends the announcement of one-year extension of tax holiday on startups and capital gains exemption for startups. “This will incentivize funding in the startup sector. The affordable housing projects can avail a tax holiday for one more year is also a welcome announcement by the Government,” he reacted.