Mixed response from Trade, Indin J&K, Opp gives thumbs down

Jammu: The Union budget 2022 has received a mixed response from different sections while a few industry associations expressed that they expected more from the Budget that was announced by finance minister Nirmala Sitaraman, a few lauded it, terming it as progressive. Some trade bodies praised the announcements in agriculture sector, others expressed disappointment over less focus to Micro Small and Medium Enterprises (MSMEs) sector and small traders. The opposition parties including National Conference and Congress gave the budget thumbs down.
Hailing the union budget, the Bari Brahmana Industries Association (BBIA) has termed it as a industrial friendly and beneficial for all sections of society of Union Territory of Jammu and Kashmir positive step under the Atma Nirbhar Bharat concept and have entered into Amrit Kaal, the 25-year-long lead up to India@100 years of Independence.
Terming the Budget 2022 as insignificant for the business community, President Chamber for Commerce and Industry (CCI) Jammu Arun Gupta said that the Finance Minister has nothing in offing for the small traders and industrialists. Gupta said that over all everything is touched in the budget but with a big disappointment for the traders and industrialists who were confronting mounting pressure due to restrictions and continuous setbacks in the last over two years due to pandemic corona and its related problems.
PHDCCI Jammu also hailing the budget, termed as well managed budget within the available resources.
Chair PHDCCI Jammu Rahul Sahai said ECLGS extension upto march 2023 with an expanded cover of 5 lakh crore will give some relief to MSME’s , startups given chance to grow with government to develop Dron Shakti for agriculture activity is a boost to startups and startups should work hard in this area, MSME payments online mechanism is very good step but should be implemented in letter and spirit , SHWET NITI which focuses on digital university with hub and spoke model , increased allocation for teachers training for tech is also a good step , Mission Shakti is wonderful for women but it needs proper implementation.
Federation Chamber of Industries Kashmir (FCIK) expressed anguish over the Budget of 2022-23, terming it unsatisfactory. FCIK sees the budget has nothing to boost demand in Micro Small and Medium Enterprises (MSMEs) Sector, the federation said in a statement.
Sanjay Bansal President Federation of all India Vyapar Mandal (FAIVM) J&K also hailed the budget. He however urged Prime Minister Narendra Modi and finance minister Nirmala Sitharaman to provide the adequate funds for the completion of Industrial Estates in time bound manner for J&K so that the UT can start the production timely as per 28,400 Crores Industrial Package.
Meanwhile, National Conference (NC) termed the Union budget a blend of sophistry and wordplay, saying it left stakeholders in Jammu and Kashmir excluded and ignored . The budget steered clear of Jammu and Kashmir and left unaddressed issues confronting working classes and small businesses, NC spokesperson Imran Nabi Dar said. "The budget has failed to tackle the problems of unemployment, and inflation.
This budget will only increase inequality and leave the largest section of our population including unemployed youth, artisans, agriculturalists, horticulturalists, marginal traders, tourism players, and transporters vulnerable than ever, he said. Dar said the budget is also oblivious to the pressing need for increase in spending on infrastructure, such as health, utility services, and education.
The NC spokesperson said the ruling government in New Delhi is only using Jammu and Kashmir as a vote-minting entity to claw its way back to power in elections after elections.
Meanwhile, Congress party has termed the budget as disappointing and hopeless for poor and middle class as well as unemployed youth who are worst sufferers of unprecedented price hike and record unemployment during the BJP regime. Reacting to the budget proposals, JKPCC Chief Spokesperson Ravinder Sharma said that budget has disappointed the common man, unemployed youth, the women folk and salaried and pensioners as well, as there are measures to address the rising unemployment and unprecedented prices of all essential items of regular use.
CPI (M) senior leader MY Tarigami a big push towards job creation and increasing domestic demand was needed in the budget.
On expected lines the BJP has hailed the union budget. J&K BJP president Ravinder Raina lauded by terming it as pro poor and development-oriented budget which is tailor made to boost the economy and speed up the development process in the Nation.
YV Sharma spokesperson BJP termed it as highly balanced, development oriented, progressive and futuristic reveling a road map for the next 25 yrs. It has attended to every sector---- poor and labour class, Business sector, education, health care, defense, farmers, urban and rural population and women etc.
Updated On 2/2/2022 11:49:11 AM