Mumbai, June 19 (KNN) With an eye over the state assembly elections due in October, Maharashtra Government presented the budget focusing more on agriculture and corporate sector.

The Micro, Small and Medium Enterprises (MSMEs) association said they have felt completely neglected as there are no sops for MSMEs in the budget.

Speaking with KNN India, President of Bombay Small Scale Industry, Bankim D. Mistry said that MSMEs are focused less as compared to Corporate Sector.

The State Government have focused more on agriculture and corporate sector and completely neglected the MSMEs in the budget, he added.

Unhappy with the budget, Past Additional Director General of Maratha Chamber of Commerce and a Corporate Advisor, Anant Sardeshmukh told KNN India that MSME’s are not focused in this budget.

He said, "Now all eyes are on the next budget that will come after the state assembly elections.”

While presenting the budget the state Finance Minister Sudhir Mungantiwar proposed to set up industrial parks at each taluka level.

The government has proposed tax and non-tax benefits to industries under its Ease of Doing Business initiative. It plans to facilitate 10,000 small-scale industries in the current fiscal by giving preference to women and members of schedule caste and schedule tribe.

The state has launched e-auction of minerals in 16 mining fields to mop up more revenue and also create jobs in Nagpur, Kolhapur, Ratnagiri and Chandrapur districts.

As a pilot project, the government plans to create such parks in 50 talukas of which 30% plots will be reserved for women entrepreneurs. The government has made an allocation of Rs 300 crore in its additional Budget for 2019-20.

VAT dealers with annual turnover of Rs 1 crore and with tax liability not exceeding Rs 25,000 will be exempted from getting their accounts studied by an auditor. They are not required to file an audit report in Form 704.

Published On : 19-06-2019

Source : Knn India