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Budget has increased taxes by 14%, complicated ease of doing biz, says MP MSMEs

Updated: Feb 27, 2016 06:53:28am
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Bhopal, Feb 27 (KNN) The Madhya Pradesh State Government presented its budget for the year 2016-17. The Micro, Small and Medium Enterprises (MSMEs) looked disappointed and called it an agriculture focused budget.

Talking to KNN, President of Association of Industries Madhya Pradesh (AIMP), O P Dhoot, said, "We have proposed to give some subsidy on few items but the Government has increased the taxes up to 14 percent on them."

"We also proposed that ease of doing business should not be complicated and asked to limit it but nothing was done in this regard, he complained adding that "We have do a lot of paper work here."

No discounts, no subsidy, no investment allowances, no concessions on purchase are have be3n given to the MSMEs, said the President.

He called it agriculture focused budget.

Madhya Pradesh government announced reducing VAT on a number of items such as CSD cars, soya milk and dialysis machine, while making battery-operated vehicles tax-free in the budget for 2016-17 presented in the Assembly on Friday.

Presenting his fourth budget, Madhya Pradesh Finance Minister Jayant Mallaiya also announced an entry fee of 6 per cent on goods in view of revenue “loss” due to the e-commerce trade. (KNN Bureau)

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