Coimbatore, Jan 25 (KNN) The Coimbatore Tirupur District Micro and Cottage Entrepreneurs Association (COTMA) has put forward certain expectations from the union budget such as initiating public sector undertakings in Coimbatore for city’s overall development and take measures to reduce price of raw materials.

Small businesses in the region also anticipate the government to reduce interest rates on loans from government banks.

C Sivakumar, President of COTMA  said, “The GST slab must be reduced from 12 per cent to 5 per cent for job order done based on labour charge.”

Issues over three modes of GST were raised by Laghu Udyog Bharati-Tamil Nadu raised concerns wherein the State joint general secretary of the body M Sivakumar said the central government should set up a mechanism to share GST revenue among stake holders and taxpayers should be charged only one form of GST. 

They have also asked the government to set up a knitwear board in Tiruppur district to amplify the growth of  knitwear apparel industry in the region. 

More than 50,000 MSMEs are located in the Coimbatore Corporation limits and facing the brunt of hike in raw material prices.