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23/03/2018 10:21am

Uttarakhand Budget 2018, industry welcomes the proposed document

image Uttarakhand Budget 2018, industry welcomes the proposed document

New Delhi, Mar 23 (KNN) State government of Uttarakhand allocates Rs 45,585 crore for Uttarakhand Budget 2018. Chief Minister Trivendra Singh Rawat and finance minister Prakash Pant presented the budget during the budget session of the state assembly on Thursday.

The key highlights of the budget for the development of industrial sector are organization of industrial development fairs to attract new investments, launching of ‘Destination Uttarakhand’ to attract investments and setting up growth centres.

Industry representatives welcomed the state budget and also requested the government to ensure free flow of funds for the new schemes.

The budget allocates Rs 25 crore for the ‘Destination Uttarakhand’, under which various events will be organized to attract investment and showcasing industrial potential of the state.

Further budget allocates Rs 15 crore for the establishment of growth centres that will be opened in all 13 districts of the state.

Also, Rs 30 crore have been sanctioned for various activities in the budget for micro small and medium enterprises with a view to strengthen this sector.

Pankaj Gupta, Industries Association of Uttarakhand president, welcomed various initiatives announced in the budget, but said more fund allocation was needed for the industry sector.

He said “Instead of mere allotment of ₹30 crore for MSME sector, there should be a package of at least ₹100 crore.”

Yogesh Jindal, chairman of SPNG Spinning Mills Kashipur, said the budget has talked of only small measures for the industrial sector but what needed is fast decision taking by the government.

Further, he emphasized on indigenous and home grown entrepreneurs instead of foreign entrepreneurs to attract investment.


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