The Budget presented by the Finance Minister today is a forward looking one, coupled with huge Regional disparity. While the Budget has attempted to spur growth and investment in the country, Regional development like in the state of Odisha has been grossly neglected. The Government has attempted to address a wide gamut of issues starting from Agriculture, rural development to industrialization, tax rationalization etc. The Government has addressed the issue of lack of confidence by Foreign Investors by making its position clear on retrospective tax, which is a welcome step. This will help in boosting economic activity in the country. The focus on MSME (Micro Small Medium Enterprise) and redefining of SME sector will help the middle class and is expected to create employment and encourage entrepreneurship. The allocation of funds for the start-up capital will give a good opportunity to the youth of our country. The Government has taken cognizance of the fact that the manufacturing sector is going to be one of the significant contributors to India’s GDP, which was our long standing demand. This is likely to put India in a better pedestal in Global arena. Unfortunately the interest of the people of Odisha has been largely ignored, as it was seen in the Railway Budget. Odisha could get only one IIM and have been deprived of many other projects which the Finance Minister has announced in the Budget. At least the Government has accepted our long standing demand to raise Mining Royalty, wherein Odisha is losing about Rs. 5 Crore a day and the cumulative loss of the last 2 years of Odisha stands at about Rs. 4000 Crore now. The negligence in the part of Government to undermine Odisha’s interest will not only impact the much needed impetus to Odisha’s growth, but also will create huge Regional disparity. It is also very unfortunate that Odisha did not get any additional allocation or special category status, though we have been demanding the same for last several years. Odessa which has consistently suffered from various natural calamities year after year, has been deprived once again of its rightful dues.
Posted on: Fri, 11 Jul 2014 02:30:00 +0000
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