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ASSOCHAM hails Union Budget, calls it ‘well-thought out ‘Budget’ 2/1/2021 10:55:03 PM Early Times Report Jammu, Feb 1: The Associated Chambers of Commerce and Industry of India (ASSOCHAM)--one of the oldest apex trade associations of the country--has welcomed the Budget announced by the Union Finance Minister Nirmala Sitharaman on Monday. The ASSOCHAM felt that the budget has catered all the sectors and it would give a boost to the economy of the country, which was badly hit by the Covid-19 pandemic. A S Mittal, Chairman, ASSOCHAM North Regional Development Council and Vice Chairman, Sonalika Group said, “Reduction of custom duty on all types of steel and exemption of duty on import of scrap are appreciable initiatives so as to soften the rising steel prices”. “It shall definitely help manufacturing sector, including automobile. Government should consider free import of second grade steel and may remove all quality measures applicable for import of steel in the country,” he added. As the Union Territory of Jammu and Kashmir was also given a special consideration in the Union Budget, Manik Batra, Chairman, ASSOCHAM J&K Council and Director, Batra Group said, “It is a very well thought out Budget and has lived up to the aspirations of the people”. “Centre has proposed an allocation Rs 30,757 crore for J&K for the fiscal year 20-21. Other than that a new gas pipeline has been announced for J&K, which will contribute to the upliftment of J&K and will also help generate jobs for the youth. The Budget will usher in a new era of development for the Union Territory,” he added. Jitender Sodhi, Chairman, ASSOCHAM Himachal State Council and CMD, Ayush Group of Companies India said, “It is a very progressive budget with a clear push to driving the country towards Aatmanirbhar Bharat. No new tax is a very positive in these times.” “I appreciate the health Budget outlay, which is an increase of 137% this year 2021-2022, Rs.35000 crore for COVID 19 vaccine in 2021-2022 and step towards MSP for farmers and concessional credit boost to them will definitely strengthen the economy and sustainable for farmers too. Overall it is good Budget for all,” he added.   Share This News with Your Friends on Social Network     Comment on this Story

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