Mysore, Jul 10 (KNN) Mysore Industries Association (MIA) has welcomed the Union Budget of  Modi Government presented in parliament today, saying that it is industry friendly and supports overall development of the sector. 
 
President, MIA, P Vishwanath and General Secretary MIA, Suresh Kumar Jain in a statement said, “The Budget is industry friendly and supports overall industrial development of the country.”
 
In particular they welcomed the announcement of: special support for the development of manufacturing sector; implementation of investor friendly tax structure; implementation of Goods and Service Tax (GST) before the end of this financial year; development of one smart city in Mysore Region; Textile Park declared with the Budgetary allocation in Mysore and Bagalkot Districts of Karnataka.
 
Other features that MIA is happy about are allocation of Rs 10,000 crore for micro, small and medium enterprises; loan at the rate of 4 per cent for women enterprises; and formation of special economic zone for women entrepreneurs.
 
However, MIA is unhappy over failure to announce - cluster development on the lines of Gujarat including providing land free of cost; rehabilitation of sick industries package throughout India on the lines of Gujarat; implementation of all Ministry of MSME Schemes directly by the MSME Ministry; enhancing the limit of Credit Guarantee Free loan and Credit Linked Capital Subsidy from Rs 1 crore to Rs 2 crore, MIA said.  (KNN Bureau)