Union Budget 2024 for MP: The industry of Madhya Pradesh openly praised the general budget presented by the central government on Tuesday (July 23) for the financial year 2024-25. Industrial organizations said that the provisions of the budget will give new impetus especially to micro, small and medium enterprises (MSME) and will be of great help in achieving the goal of ‘self-reliant India’.
Yogesh Mehta, president of Madhya Pradesh Association of Industries, an organization of the MSME sector, told the media that the central government’s general budget has been presented as a strategy to make the country developed and self-reliant. He said that the impact of the budget provisions will strengthen India’s MSME and they will be able to give tough competition to China in the international market.
Who said what on the budget?
Mehta also praised the budget proposal to allocate Rs 1.48 lakh crore for education, employment and skill development and said it was a “historic allocation” in this regard.
Ashish Vaish, president of the Madhya Pradesh unit of the Confederation of Indian Industry (CII), said, “We are confident that the budget announcements will accelerate our journey towards the goal of self-reliant India.”
He said, “The budget also emphasises the importance of skills and capacity building. This is in line with our goal of equipping the workforce with the required skills to drive innovation and growth.”
The Pithampur Industrial Organization, representing 1,500 small and large industries in Pithampur, the state’s largest industrial area, has also praised the budget.
‘Focus given on MSME, employment and internship’
The organization’s president, Gautam Kothari, said, “In the budget, special attention has been given to the development of the MSME sector as well as providing employment and internship opportunities to the youth, which is a welcome step.”
‘Budget is normal from business point of view’
Ramesh Khandelwal, president of Ahilya Chamber of Commerce, a federation of business organisations in Indore, the economic capital of the state, termed the budget as “normal” from the business world’s point of view.
He said, “This time the business world was hopeful that through the budget there would be a big relief in income tax and the system of Goods and Services Tax (GST) would be simplified. The business world is disappointed as this expectation was not fulfilled.”
‘There is no solution to the complexities of GST’
Rameshchandra Gupta, national vice-president of Confederation of All India Traders (CAIT) said that small traders have been struggling with the alleged complexities of the GST system for a long time, but no solution has been found for them in the budget.
Gupta praised the budget provisions for doubling the loan limit under the Pradhan Mantri Mudra Yojana to Rs 20 lakh and strengthening the infrastructure.
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