The Tamil Nadu Budget 2024-25 presented by Finance Minister Thangam Thennarasu on Monday proposes a multi-storeyed industrial complex with plug and play facilities for micro units in Coimbatore.
It also plans Information Technology park in Coimbatore, develop the district as GCC hub, and a neo tidel park in Tiruppur district.
Tamil Nadu Budget announcements for Coimbatore district
On the infrastructure front, the Budget says that the detailed project report for the metro rail along Avinashi and Sathyamangalam roads at ₹ 10,740 crore has been sent to the Central Government for approval and that the Avinashi - Mettupalayam road will be widened.
A model project called Poonjolai will be set up in Coimbatore with amenities such as skill training centre, counselling rooms, library, family members’ visiting room, medical examination room, park and playground for children, and a grand library and science centre named after former Chief Minister M. Karunanidhi will be set up in the city. An incubation hub to nurture start-ups, and micro and small industries will be included in it.
K. Senthil Ganesh, chairman of CII Coimbatore Zone, says this is a comprehensive Budget proposed with the twin goals of economic growth and economic development. The announcement on developing four new industrial parks across the State, including Coimbatore, will ensure balanced industrial development across the State.
According to B. Sriramulu, president of the Indian Chamber of Commerce and Industry, Coimbatore, the Budget is well-balanced one focusing more on school and college education and enhancing people’s welfare and the investment in IT infrastructure in Coimbatore is a welcome move.
V. Thirugnanam, president of the Coimbatore District Small Industries Association, says the Budget focuses on social justice, welfare of the marginalised, knowledge-based economy, equality and women welfare. However, it has not addressed the need to reduce electricity charges for the MSMEs.
Coimbatore and Tirupur District Micro and Cottage Entrepreneurs’ Association president C. Sivakumar says measures such as multi-storeyed industrial complex for micro units are a welcome move. But, there are no announcements on reduction of electricity charges.
According to J. James, president of Tamil Nadu Association of Cottage and Tiny Enterprises, while the multi-storeyed industrial complex will benefit the micro units, there is no move to strengthen the pumps and motor cluster here.
Coimbatore Compressor Industries Association president M. Raveendran says the Budget seeks to address the needs of all sections of the society. But, the total allocation for the MSMEs is just ₹1,557 crore. This should be increased to ₹2,400 crore.
Published - February 19, 2024 08:48 pm IST
