CICU appreciates Punjab Budget 2019-20

Ludhiana, February 18, 2019: Today, Upkar Singh Ahuja, President and Pankaj Sharma, General Secretary, Chamber f Industrial and Commercial Undertakings (CICU) jointly gave comments on Punjab Budget 2019-20 and appreciated the steps taken by the Manpreet Singh Badal, Finance Minister, Punjab.

• Reducing the Fuel prices of Petrol and Diesel with Rs. 5 and Rs. 1 respectively a big relief to the Common public.
• They welcomed the allocation of Rs. 296 Cr. For the development of Ludhiana, Amritsar and Jalandhar as Smart Cities.
• Setting of 15 new ITI in Punjab will decrease the unemployment in Punjab and boost the manpower in industry.
• New scheme Make in Punjab to promote goods manufactured & produced in Punjab is the need of the hour.
• They appreciated the much needed 4.38 cr amount allocated for the cleaning of Budha Nalla.
• They appreciated that no New Tax has been implemented this year.

Moreover, they also emphasized there is no any relaxation in GST for MSMEs. No special package has been provided to boost the MSME sector, which has got big dent due to many factors. It was expected that some relaxation will be given in reducing the rate of GST for Industry sector but nothing has been done.