CCI’s Reaction to the Union Budget 2024-25, Highlighting the Business Community’s Discontent and Unaddressed Proposals for Public Sector Growth

Jammu, 01-02-2024 : In the reaction to the Budget announced by the Central Government today Sh. Arun Gupta, President Chamber of Commerce & Industry said that there is nothing new for the business community as no relief has been announced for them in the budget. He also said that we have demanded the establishment of some public sector undertaking unit in Jammu but nothing has been announced in the budget. He also hoped that while announcing the budget for the UT of J&K the government will announce the establishment of a   big tourism destination in Jammu to increase the footfall of tourists in Jammu as the Rail / Road connectivity up to Kashmir Valley will definitely harm the economic growth, especially of Jammu City.

While hailing the Union Budget announced today Sh. Arun Gupta said that the Central Government has given focus to all major sectors including Defence, Health Sector, Agriculture and food processing, Women, Youth and lower-middle-class people.

Sh. Arun Gupta also welcomed the continuity of tax benefits to the start-ups and tax exemption of some IFSC units up to 31-03-2025 and the retention of the same tax rates.

Sh. Arun Gupta also welcomed the scheme of rooftop solarisation for one crore households enabling them to get 300 units of electricity free of cost per month.

Sh. Arun Gupta hailed the announcement of an additional two crore houses in the next five years and the scheme to promote housing for the middle class to buy and build their own houses under the Pradhan Mantri Awas Yojana.

Sh. Arun Gupta further said that the implementation of three Railway Corridor programs under PM GATI Shakti to improve logistic efficiency and reduce cost, expansion of existing Airports and development of new airports under the UDAN Scheme and promotion of Urban transformation via Metro Rail and NAMO Bharat is also a welcome step.