TN budget will give impetus to infrastructural growth: CII

Trade body Confederation of Indian Industry (CII) on Saturday said the budget presented by Tamil Nadu Deputy Chief Minister O Panneerselvam would give impetus for the growth of infrastructure.

CII Tamil Nadu state council chairman S Chandramohan welcomed the budget, saying it was a growth-oriented and an inclusive one.

"The budget will give impetus for infrastructural growth by significant allocation of Rs 15,850 crore towards road projects which will spur growth of several sectors," he said.

He said the development of Ponneri Industrial Belt of Chennai-Bengaluru corridor and the Chennai-Tuticorin industrial corridor was expected to give momentum in the coming years.

He said the government's plan to increase the subsidy for the NEEDS (New Entrepreneur-cum-Enterprise Development Scheme) (NEEDS)Scheme to Rs 50 lakh would promote entrepreneurship, employment and gowth.

The various measures taken by the government on skills training, Financial Technology (FINTECH) Centre in Chennai would go a long way in retaining and enhancing the competitiveness of the state, he said. Panneerselvam who holds the Finance portfolio presented the last full-fledged budget of the AIADMK government on Friday.