<p>The budget presented by Chief Minister K Siddaramaiah on Friday has evoked a rather pessimistic response from business chambers.<br /><br /></p>.<p>The most scathing remark came from the Bangalore Chamber of Industry and Commerce (BCIC), whose Senior Vice-President A N Chandramouli said, “Overall, the budget is not very industry-friendly and does nothing to spur industry out of its present phase of sluggish growth.”<br /><br />CII Chairman, Karnataka, Soumitra Bhattacharya said, “The budget is silent on manufacturing with no clear steps to boost industrial development.” Co-Chairman of Assocham Southern Regional Council, J Crasta said, “Leaving the VAT structure untouched will put industrial units in the state at a disadvantage vis-a-vis their counterparts in adjoining states where VAT rates were relatively lower.”</p>
<p>The budget presented by Chief Minister K Siddaramaiah on Friday has evoked a rather pessimistic response from business chambers.<br /><br /></p>.<p>The most scathing remark came from the Bangalore Chamber of Industry and Commerce (BCIC), whose Senior Vice-President A N Chandramouli said, “Overall, the budget is not very industry-friendly and does nothing to spur industry out of its present phase of sluggish growth.”<br /><br />CII Chairman, Karnataka, Soumitra Bhattacharya said, “The budget is silent on manufacturing with no clear steps to boost industrial development.” Co-Chairman of Assocham Southern Regional Council, J Crasta said, “Leaving the VAT structure untouched will put industrial units in the state at a disadvantage vis-a-vis their counterparts in adjoining states where VAT rates were relatively lower.”</p>
