Holistic and progressive, lauds biz community

The creation of industrial parks in a number of districts encompases the Chief Minister’s view of broad-based progress across the State, it said. MCCI is excited that the budget provides for a fintech city at Nandambakkam. “The MSME Guarantee Fund that provides credit guarantee to banks and financial institutions for MSME loans is a welcome step. The State’s recognition of using the Samaadhan scheme to clear VAT disputes and its willingness to have a committee to look at guideline values is welcome,” Srivats Ram, president, MCCI, said.

Mahesh Anand, president, Nippon Paint India (Decorative), said, “The TN budget brought some welcome news for the causes of the environment and climate. The announcement of the launch of green movement in TN and the sapling-plantation drive draws attention to the increasing importance of actions to conserve the environment. The Rs 500-crore allotted for climate change adaptation is sure to create a great impact.” A similar endorsement came from Vidya Mahambare, Economics professor, Great Lakes Institute of Management. The professor welcomed the focus on better water management and delivery of drinking water. Against 31 per cent of the state population having access to piped water in 2015-16, this move to provide safe drinking water to 1.27 crore households, is laudable. It is unclear as to how the government is going to bridge the Rs 58,692 crore revenue deficit, considering that the revenue side details are not available.

GSK Velu, chairman, FICCI TN Council and chairman and MD, Trivitron Group, said, “The setting up of four TIDEL parks and nine new SIPCOT Industrial Parks will create an ecosystem for inclusive industrial growth. Announcements on the proposed new parks for e-vehicles at Tiruvallur, medical equipment at Oragadam, defence park in Coimbatore and food park at Tindivanam will play significant roles.” Venu Srinivasan, chairman of TVS Motor Company, said the new announcements will boost the State economy.