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Good for people, bad for business

Dhanbad/Bokaro, July 10: Residents of the coal belt were happy with the Union Budget, especially the income tax relief and hike in PPF deposit limit, but small-scale entrepreneurs were demoralised at the lack of budgetary initiatives in the manufacturing sector.

Pramod Pathak, senior professor at ISM, said he was happy about hike in the I-T exemption cap. “We, the salaried class, are jubilant over the hike of the I-T exemption slab to Rs 2.5 lakh,” he said, adding that the Union Budget was “considerate”.

Rajiv Sharma, the president of Federation of Dhanbad Zila Chamber of Commerce and Industry, hailed the budget as one that would help bring the economy back on track.

“The government has given due consideration to important sectors like power, infrastructure development, irrigation, agriculture, etc,” he said. He also welcomed the excise duty hike of cigarettes from 11 to 72 per cent as it would help curb tobacco addiction.

“Though Jaitley had tried to plug the deficit gap , he hadn’t taken enough care of small and medium entrepreneurs,” said Bokaro Chamber of Commerce and Industries president Manoj Kumar Chowdhry.

Educationist and former state women’s commission boss Hemlata S. Mohan hailed the budget as “progressive”.

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