Kolkata, Feb. 12 -- With the state Budget for financial year 2025-26 placed in the Assembly on Wednesday, chambers of commerce have called it a progressive Budget which ensures inclusive growth.

Sanjay Budhia, MD - Patton, praised the allocation of funds for infrastructure projects, including Rs 500 crore for the construction of Ganga Sagar Bridge and Rs 9600 crore to build 16 lakh more houses under Banglar Bari.

Rajeev Singh, director general, Indian Chamber of Commerce (ICC) too praised the Budget for focusing on key areas such as infrastructure creation, climate mitigation and adaptation, rejuvenation of the tea industry, among others.

He opined the four percent hike in Dearness Allowance (DA) for state government employees will help to restore their spending power, protect their real income and guard against inflation. This will augment consumer demand for the state economy.

He said the extended waiver on any state tax on income from tea production for one more year will help to improve the state export potential for tea. He opined that the Rs 9600 crore allocated for the Banglar Bari scheme will boost the real estate sector and create assets for the marginalised population. NG Khaitan, president, Bharat Chamber of Commerce, Kolkata highlighted that Bengal has seen a rise in the purchasing power of the people of rural and semi-urban areas. In this direction, the 'Nodi Bandhan' scheme would emerge as a unique project to touch the untapped zones as well, Khaitan observed. Amit Saraogi, president, MCCI, appreciated that GSDP of state constant prices has increased by 6.80 per cent, 2024-25 (1st AE), which is higher than the growth rate of India i.e. 6.37 per cent.

He also highlighted that the industry sector has registered a growth of 7.3 per cent, substantially higher than the national figure of 6.2 per cent. He appreciated the allocation proposal of Rs. 1,477.91 crore for the industry and Rs 4,141,82 crore for power.

Vivek Jalan, chairperson of taxation committee of BCC&I said the Budget pegged at Rs 3.89 lakh crore laid down that industry has registered a growth of 7.3 per cent, substantially higher than the national figure of 6.2 per cent. He opined that the allocation of Rs 1,229 crore for MSMEs will be a significant push this fiscal in their businesses.

Published by HT Digital Content Services with permission from Millennium Post.