Ahmedabad

Finance Minister Shri Saurabhbhai Patel, today announced the State Budget for 2016 – 17. Reacting to the budget Mr. Rajiv Vastupal, Chairman, FICCI – Gujarat State Council said, “It is a balanced budget with due share given to Industry, Infrastructure and Social Sector. On the industry front, the govt has taken some astute decisions. The allotment of Rs. 500 Crores to textile industry will give a much needed boost to the sector. The development of the industrial infrastructure will also get a major boost with Rs. 200 Crores allotted for construction of industrial parks. Reduction of tax on ceramic and bamboo products will surely benefit SME sectors in the state, while levying entry tax on e-commerce goods will protect local market.”

“The announcement of a Rs. 50 Crore Venture Capital Fund shall give a fillip to the Start-ups in the State. Allocation for funds to develop high-speed rail corridor, metro, and infrastructure projects will reap benefits for industries at large. Development of 20 railway stations on PPP mode is also a welcome move that will encourage more such involvement of private companies in the growth story of Gujarat. The focus on employment generation and job creation is also a welcome initiative. These initiatives shall also empower the youth of the State both in terms of entrepreneurship as well as jobs.” added Mr. Vastupal.

Mr. Rajiv Gandhi, CEO & MD, Hester Biosciences Ltd

“Our State budget reflects the government’s focus on growth of rural economy, better healthcare and infrastructure. Rs.614 crore allocation for the animal husbandry and dairy sector and tax exemption on frozen semen will help the industry grow and improve animal productivity. Higher allocation to agriculture, irrigation & rural infrastructure, developing 300 smart villages, launching Kisaan cards will undoubtedly give a big boost to the rural economy. Declaring 2016-17 as the youth development year, creating 60,000 new jobs and allocating a fund of Rs. 50 crores for start-ups will positively motivate the youth of Gujarat.”

– DeshGujarat