COIMBATORE: Industrialists and mavens within the town welcomed the transfer to cut company tax for micro, small and medium enterprises (MSMEs) with an annual turnover as much as Rs 250 crore to 25%, but mentioned they have been upset that the same has not been prolonged to partnership companies.
"While the reduction in tax will benefit the MSMEs in the city, partnership firms have been left out. Coimbatore has many partnership firms and their corporate tax stays at 30%," mentioned PR Victor Advisor, Auditors' Association of South India.
G Karthikeyan, chairman of Indus Entrepreneurs, mentioned company MSMEs would now have an undue benefit over partnership companies.
Lack of bulletins for startups has also raised considerations. "The budget does not provide the much needed thrust to innovation and starups. It's a disappointment that too when the Centre pitches for Make in India," Karthikeyan added.
While the thrust on agriculture and healthcare would receive advantages farmers and basic public, lack of new incentives for production sector has disillusioned the industrialists. "Steps taken to increase agricultural income will improve the market for quality agricultural pumpsets," mentioned Okay Okay Rajan, president, Southern India Engineering Manufacturers' Association. He mentioned the allotment of Rs 2.04 lakh crore for the advance of 99 good towns would receive advantages Coimbatore. "However, it is disappointing that there is no new incentive for the manufacturing sector in the budget," Rajan lamented.
The finances is general balanced and prudent when it comes to providing incentives for new jobs, extending fixed time period employment, enhancing quality of education and addressing healthcare get admission to, mentioned S Narayanan, chairman, Confederation of Indian Industry, Coimbatore.
Experts, in the meantime, mentioned the state will have to be certain that to faucet some great benefits of probably the most bulletins. "It proposes to set up state-of-the-art food testing facilities in 42 export oriented mega food parks. If the state ensures one in the city or nearby, farmers will benefit," mentioned D Balasundaram, former president of the Indian Chamber of Commerce and Industry, Coimbatore.
"While the reduction in tax will benefit the MSMEs in the city, partnership firms have been left out. Coimbatore has many partnership firms and their corporate tax stays at 30%," mentioned PR Victor Advisor, Auditors' Association of South India.
G Karthikeyan, chairman of Indus Entrepreneurs, mentioned company MSMEs would now have an undue benefit over partnership companies.
Lack of bulletins for startups has also raised considerations. "The budget does not provide the much needed thrust to innovation and starups. It's a disappointment that too when the Centre pitches for Make in India," Karthikeyan added.
While the thrust on agriculture and healthcare would receive advantages farmers and basic public, lack of new incentives for production sector has disillusioned the industrialists. "Steps taken to increase agricultural income will improve the market for quality agricultural pumpsets," mentioned Okay Okay Rajan, president, Southern India Engineering Manufacturers' Association. He mentioned the allotment of Rs 2.04 lakh crore for the advance of 99 good towns would receive advantages Coimbatore. "However, it is disappointing that there is no new incentive for the manufacturing sector in the budget," Rajan lamented.
The finances is general balanced and prudent when it comes to providing incentives for new jobs, extending fixed time period employment, enhancing quality of education and addressing healthcare get admission to, mentioned S Narayanan, chairman, Confederation of Indian Industry, Coimbatore.
Experts, in the meantime, mentioned the state will have to be certain that to faucet some great benefits of probably the most bulletins. "It proposes to set up state-of-the-art food testing facilities in 42 export oriented mega food parks. If the state ensures one in the city or nearby, farmers will benefit," mentioned D Balasundaram, former president of the Indian Chamber of Commerce and Industry, Coimbatore.
MSMEs have a reason to rejoice, others don’t
![MSMEs have a reason to rejoice, others don’t]()
Reviewed by Kailash
on
February 02, 2018
Rating:
