Tamil Nadu Budget 2024 has drawn a positive response from various representatives of industries, but the industries associations have also offered suggestions.
“The Budget gave equal priority to inclusive development and social empowerment. It included several new, innovative announcements in line with the expectations of the youth and can serve as enablers for the State’s growth in future,” said Shankar Vanavarayar, chairman, Confederation of Indian Industry, Tamil Nadu. The Finance Minister had sent a clear message that the State’s economic growth can go together with inclusion and empowerment. “
Srivats Ram, vice-chairman, CII Tamil Nadu, welcomed the proposal to launch the Tamil Nadu Artificial Intelligence Mission that would further strengthen the State’s leadership in the IT industry. He hailed the Budget’s focus on sustainability, as exemplified in setting a 100-billion-unit target of renewable energy, time-bound restoration of Adyar river, and the preparation of detailed project reports to restore rivers in Madurai, Tirunelveli, Tiruchi, Erode and Coimbatore.
The Madras Chamber of Commerce and Industry commended the focus on Artificial Intelligence with guidelines in education, employment and medicine in the Budget. T.R.Kesavan, president, MCCI, said: “Equitable regional development has been a consistent recommendation of the MCCI. The announcements for development of industrial and business parks in the essential sectors, like aerospace, IT, textiles and micro industrial clusters in Tier II and Tier III cities will give the economy a boost. The focus on skilling initiatives, such as re-skilling programmes for women and incubation hubs are a welcome move.
Welcoming the announcements for industries and micro, small and medium enterprises, Tamil Nadu Small and Tiny Industries Association listed out 11 announcements in the Budget. C.K.Mohan, president, TANSTIA said the association welcomed various announcements, like Tamil Nadu Artificial Intelligence Mission to be established, three new industrial estates and integrated textile park in SIPCOT, Salem district. But, the overall Budget of ₹1,557 crore allocated for MSMEs must be increased, and the MSME demand for reduction of electricity charges was not answered.
The Tamil Chamber of Commerce noted that emphasis on start-ups, skill development and creation of 50,000 government jobs are good initiatives. Its president Chozha Naachiar Rajasekar said funds for various announcements like State Highways Authority, Kalaignar International Convention Centre and Salem and Virudhunagar Textile Park must be allocated soon and work must be started immediately.
