Mixed reaction to budget from Southern industry bodies

Southern industry bodies today welcomed the proposals on setting up of AIIMS in Tamil Nadu and operationalisation of second unit Kudankulam Nuclear Power Station.
"The South India Chamber of Commerce and Industry Chamber welcomes the announcement for the creation of AIIMS in Tamil Nadu and the launch of the second unit of Kudankulam Nuclear Power Station in 2016. But, the budget has missed the opportunity to provide incentives for job creation", SICCI President Jawahar Vadivelu said.
"The Chamber feels that this budget is more of an incremental budget and a missed opportunity", he said.
Noting that the Corporatisation of ports was a good attempt to bring professionalism, Madras Chamber of Commerce, immediate Past President, T Shivaraman said, the higher allocation for infrastructure, introduction of tax free infra bonds were "welcome move".

"The increase in service tax to 14 per cent, though on expected lines, could be inflationery in short run", he said.
City-headquartered public sector Indian Bank, Chairman and Managing Director T M Bhasin said the provision of agriculture credit of Rs 8.50 lakh crore and allocation of Rs 95,000 crore for upgradation of rural infrastructure through NABARD are "welcome steps".
He said setting up of the MUDRA Bank for financing small and micro units with credit guarantee would "strengthen" the Micro, small and medium enterprises.
"Introduction of comprehensive bankruptcy laws in 2015-16, and extension of SARFAESI act for NBFC with asset base of Rs 500 crore will improve the recovery climate", he said.