WEST BENGAL BUDGET PROPOSALS FOR 2022-23: IMMEDIATE REACTIONS OF SHRI RAMESH KUMAR SARAOGI, PRESIDENT BHARAT CHAMBER OF COMMERCE, KOLKATA

Shri Ramesh Kumar Saraogi, President, Bharat Chamber of Commerce, Kolkata giving his immediate reactions on the West Bengal Budget Proposals for 2022-23 presented by Smt. Chandrima Bhattacharya, Hon’ble Minister of State for Finance (I/C), Government of            West Bengal, at the State Assembly, this afternoon of 11th March, 2022, observed that:

“The West Bengal Budget-2022 has once again laid stress on unique humanitarian projects, stated Shri Ramesh Kumar Saraogi, President, Bharat Chamber of Commerce.

“Shri Saraogi complimented the Government of West Bengal for its efforts in clocking a positive GSDP growth rate of 1.06 per cent in 2020-21, when the national economy contracted by more than 7 per cent. He observed that the State Government’s forecast of attaining a GSDP growth rate of 12.82 per cent for the current fiscal seems plausible, backed by increased allocation for spending in infrastructure development, social sector, agriculture and allied sectors.

“Shri Saraogi also observed that because of a very supportive policy and special thrust given by the State Government during the pandemic, the industry has been able to march towards the revival of their business strongly and a significant improvement, particularly in the infrastructure and connectivity, has also been witnessed.

“Sharing his observations on the Government’s demand stimulating approach towards the MSME sector, the President stated that the Powerloom Incentive Scheme is a great stepping stone towards attaining self-sufficiency in fabric required for production of readymade garment especially school uniform. However, he emphasised that ongoing projects related to construction of new industrial parks and exhibition centres are required to be completed and made operational within the next 6 months.

“Shri Saraogi observed that the Government has duly recognised the need for expanding the usage of eco-friendly vehicles. In this regard, he lauded the decision for exempting Registration fee and Road tax on all categories of CNG vehicles and battery operated two-wheeler and four-wheeler electric vehicles for the next 2 years from the FY 2022-23.

“Another important area is streamlining the allotment of land to industry. Besides, introduction of user-friendly vibrant mobile application like, “Jomir Tothya”, “e-bhuchitra” are welcome measures in the industrial landscape as well. Besides, extension of 2 per cent rebate on Stamp Duty and 10 per cent rebate on circle rate of land / property for another 6 months would certainly support the real-estate sector to a great extent, he emphasised.

“Shri Saraogi also recorded his appreciation on the steps proposed in the West Bengal State Budget 2022 for the growth of the food processing industries. Relaxation on the Agricultural Income Tax on tea gardens will help rejuvenate the tea industry of our State, he stated.

“Though there is no special Policy announcement for industry at large, we expect some big-ticket reforms at the ensuing Bengal Business Global Summit, 2022 and sector specific proposals, Shri Saraogi, President observed