MCCI on West Bengal State Budget 2016-17

mcciThe State Budget for 2016-17 has further introduced a slew of measures to facilitate ease of doing business in the state, said Shri Manish Goenka, President, MCC Chamber of Commerce & Industry. It represents a ‘people’s budget’ in all respects. State’s support to indigenous industry continues with the extension of the Industrial Promotion Assistance Scheme for financial support to micro and small enterprises by three years. The online availability of TDS Certificate for ready download by the taxpayer is a welcome move. Providing relief of cess payment to tea industry would protect the interests of tea workers. Enhancing the monetary limit for filing appeal for disputed cases to Rs.1 lakh is a positive step towards bringing down litigations and administrative costs of revenue collection. The reduction in time limit for disposal of appeal from 1 year to 6 months would also help in this regard. Abolition of the Settlement Commission to dispose old pending cases through Fast track Courts has indeed been a bold move.

Emphasis on infrastructure and urban development reflected in the 10000 kms of constructed and upgraded rural roads and 10663 kms of highways continues in the current budget as well.

The budget outlay has once again shown its lenience towards social well being. The stress on rural development is expressed in the allocation of Rs. 10652 crore for Rural development against around Rs. 5200 crore for Municipal Affairs department. The decision of raising the exemption limit for professional tax to Rs. 10000 per month from Rs. 8500 per month would provide relief to lakhs of employees and wage earners. The support extended to meritorious and economically weaker sections for getting scholarships in higher education by the increased outlay of Rs. 200 crore in 2016-17 is a commendable step. Proposal to introduce e-classrooms in more than 700 state aided universities and colleges along with schools ensured by the outlay of Rs. 100 crore is a grand step to modernization of public education system.