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Associated Chamber of Traders Federation congratulates central Govt on Budget 7/11/2014 12:22:21 AM Early Times Report Jammu, July 10 : Yash Paul Gupta President, ACTF has congratulated the new Govt. for giving a Visionary Budget which attends to the needs and aspirations of almost every section of the community. The raising of the Income Tax exemption limit from Rs 2 lacs to Rs 2.50 lacs for people below Rs 60 and from Rs 2.5 lacs to Rs 3 lacs for senior citizens will definitely come as a big relief. Similarly raising the limit of exemption under Rs 80 C from Rs 1.00 lac to Rs 1.5 lac and raising the exemption for house loan from Rs 1.5 lac to Rs 2 lacs will come as a big relief to the people and also sanctioning of IIT for Jammu is a welcome step. The funds allocated for Ganga Cleanliness Project, Gramin Vikas Fund, Special Welfare Fund for the Safety and Development of Women, Special Fund to check the increasing inflation of the food items, special incentives for agriculture and infrastructure like roads, airports etc, special attention to the development of north-east region and defence, special stress to improve the education and health care sectors, opening AIIMS in more states, providing affordable houses to all, resolving to give electric power round the clock throughout the country are factors which speak loudly about the commitment of the new Govt. to take the country on the path of inclusive growth in all sectors.Giving relief to the people in many sectors the budget proposes to reduce the excise duty on many items like electronic goods, oils, soaps, solar equipments, shoes, steels items, mobiles and computers and many other items of everyday use which will definitely reduce the prices of these items of everyday use. ACTF also welcomes the projections of the budget about the formation of Kisan Mandies, Cheap housing for all, developing more new cities and towns, sanitation provisions like toilets, connecting rivers and other welfare scheme.The scheme to launch the water transport system, to make the tax system more rational and transparent and giving incentives to trade and business are also the welcome steps of the budget.Overall the budget sets a new direction for the development of the counry and gives a hope that the country has a very bright future.ACTF feels that there should be another slab of 25% instead of 30% between 10 lacs and 20 lacs. ACTF feels that if all the projections of the budget are implemented properly will definitely give a new direction to the society to move on the path of progress and development.   Share This News with Your Friends on Social Network     Comment on this Story

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