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The Singhbhum Chamber of Commerce and Industry welcomed the Union budget on Monday presented by finance minister Nirmala Sitharaman.
SCCI, the leading trade body of Kolhan region termed it a bold budget. Bold because, inspite of a huge deficit, spending has not been curtailed, rather it has been qualitative spending. Welcome because unexpectedly the deficit has not been tried to fill up by way of tax,” said Bharat Vasani, general secretary of SCCI to The Telegraph Online.
Vasani said the biggest announcement for Jamshedpur in the Union budget has been the Voluntary Vehicle Scrappage Policy. This was in discussion for a long time. Auto sector was relying heavily on this to fight the cyclical nature of their industry. This will help Tata Motors, and this will enable the demand of more steel too. This will give a fillip to the entire economy of this region, as ancillaries too will benefit, he explained.
JAMSHEDPUR: Hit by the automobile slowdown in 2019 and the pandemic, in 2020, Small and Medium Enterprises (SMEs) of the Adityapur industrial area are hoping for a revival in 2021.
“The two back to back incidents hit the SME sector, but September onwards there is a visible improvement and we are hoping for good business in 2021,” said president of Adityapur Small Industries Association Inder Agarwal.
Agarwal also said the demand in the auto sector has improved reasonably, but at the same time, material cost has increased. “I would urge the state government to pace up the implementation of the policies for the industrial sector to help entrepreneurs take advantage of them in order to revive soon,” he said.
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