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Revised Kerala Budget hailed

Our Bureau,

KOCHI, July 15

THE Cochin Chamber of Commerce and Industry has welcomed the revised Kerala Budget 2001-02, saying that the decision to give special emphasis for the development of industry, information technology, tourism and infrastructure will definitely help efficie nt and speedy development of economic activities in the State.

The Chamber President, Mr A.K. Atal, said the decision of the Government to declare the Eloor-Kochi belt as an industrial development corridor would certainly ensure the faster progress of the area. Moreover, the decision to attract private investment in to all sectors, the desire to promote biotechnology, the introduction of fast track system of registrations etc were also highly appreciable, he said.

The much-talked power tariffs increase and other basic charges have not come about as feared. This, despite the difficult financial situation in the State, was a welcome move, he said and added that the Government had understood the essence of the Chambe r's appeal to desist from the proposed move to increase tariffs in the light of adverse impact that it could have on industry in the State.

The Chamber, however, regretted that the Budget had failed to come out with any specific measures to tackle the problem of the loss-making public sector units in the State. This is a crucial lapse on the part of the budget and a costly one too.

Mr Atal pointed out that the policy statement has been made at a time when Kerala was passing through a grave financial crisis. The implementation of the Budget proposals would be responsible and efficient in every way so that Kerala can hope for a bette r tomorrow.