'Implication of budget depends on execution of projects'

'Implication of budget depends on execution of projects'

The Union budget presented on Thursday, has been perceived in different ways across the Udupi district. Udupi Chamber of Commerce and Industries Chairman K V Prabhu termed the budget as the combination of good and bad things.

He told Deccan Herald that the budget has offered goodies to agriculturists and women.

However, the budget has sidelined the interests of the industrialists, as it has offered nothing to industrialists and investors.

There is no tax benefit. The salaried  people are also not benefited as the tax exemption is around Rs 2.5 lakh in contrast to the assurance made by the government of Rs 5 lakh. Earlier, it was Rs two lakh.

The people who avail the benefits of housing schemes are benefited. It has also offered more benefits to women in terms of education and safety, he added.

Udupi branch of Institute of Charted Accountants of India Chairman Venkatesh Nayak said the budget is good and balanced. It has catered to the needs of people from all sectors and class.

However, personal income tax exemption is not in line with the common man’s expectations. The investment limit is increased by Rs 50,000, which is another good factor. However, the implication of the measures solely depend on the meticulous execution of the projects that are announced.

Besides all the states are given equal importance, although Jammu Kashmir and North-Eastern states are given extra prominence.

Udupi Bar Association President Prasad Uphadhyaya said the encouragement given to public sector banks and reality sector by liberalising the land acquisition process will boost the economy.

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