Union budget gets positive response in Dakshina Kannada

Economic experts and industrialists in Dakshina Kannada district have welcomed the 2017-18 budget presented by Union Minister for Finance Arun Jaitley. Terming it as a growth-oriented budget, Prof G V Joshi, Nitte Institute of Management Professor of Economics and Karnataka State Planning Board former member, said the Finance Minister has used his wisdom and expertise as a political leader by presenting facts and figures to supplement his budget presentation.

“As the railway budget was merged with the general budget, I had expected a lengthy budget. Contrarily, he presented a brief budget speech by covering all aspects. The provisions under the MGNREGS have been increased from Rs 38,500 crore in the current year to Rs 48,000 crore in 2017-18. The budget has also laid stress on agriculture, irrigation, which is justifiable. “The finance minister is determined effort to make MGNREGS operationally useful by proposing to construct 10 lakh tanks using the funds, with a greater role for women. The budget has made the scheme complementary to the agriculture sector,” he felt.

‘Thrust on cashless’
Stating that the budget is pro-poor and working class, KCCI president Jeevan Saldanha said the budget has given thrust on cashless economy and announced limit of Rs 3 lakh on cash transactions. To benefit the salaried class, the budget halved the tax to 5% on income up to Rs 5 lakh but proposed a new surcharge of 10% on incomes between Rs 50 lakh and Rs 1 crore. The budget has also reserved the best for the real estate sector, which witnessed a slump post demonetisation by announcing affordable housing. The increase in an outlay for infrastructure will see development in the economy.

The budget could have given a boost to the export and manufacturing sector. On the other hand, the railway budget has nothing concrete for Dakshina Kannada, where world class railway station continues to be a dream. However, for the common man, waiving of service charge on tickets booked through IRCTC is welcome move, he added.

Achal Industries proprietor Giridhar Prabhu said, “Significant increase in grant-in-aid to gram panchayats and municipalities as per the recommendations of the 14th Finance Commission will definitely help the major towns of Dakshina Kannada and Udupi districts along with the gram panchayats. With the increase in allocation to highways, we hope to see lot of development in the region.”

District In-charge Minister B Ramanath Rai said that the union budget has not announced any incentives for arecanut and rubber growers. Post demonetisation, about 85% of employment has been lost in the small industries. No boost has been announced to set it right.

Priority has not been given for generation of employment. The demands pertaining to the railways from Dakshina Kannada too have been neglected. U T Khader, Food and Civil Supplies Minister, opined that the budget is disappointing as it lacks farsightedness. It has failed to reveal the total amount of deposits in the bank, post-demonetisation.
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