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Disappointing budget for the traders: Singhbhum Chamber

Jamshedpur, Feb. 1: Singhbhum Chamber of Commerce and Industry (SCCI) on Thursday organised the live screening of the Union Budget presented by Finance Minister Arun Jaitley, at the Chamber Bhawan. Traders in large numbers had gathered at the venue since the start of the budget speech hoping for some tax sops for the business class. But overall the traders seemed disappointed with Union Budget and Railway Budget which had nothing to offer for the business class.

SCCI President Ashok Bhalotia, said, ‘We were expecting a good budget in terms of tax sops to the individuals and the traders but it had nothing. The government has done a great job for the rural poor and has provided healthcare for 10 crore families’.

‘The Union Budget 2018 has nothing special to offer. The traders have been neglected and there has been no change in the income tax slab which was expected from the Finance Minister after GST came into effect and demonetization. Nothing has been done in terms of education in Jharkhand and students after plus two who look to other parts of the country will continue their journey. Healthcare scheme will benefit a large population of the country which is poor. But overall the economic boost was missing from the budget’, said Vijay Anand Moonka, General Secretary, SCCI.

Former SCCI President Suresh Sonthalia, termed the Union Budget as populist seeing the upcoming General Elections. ‘The traders are disappointed as the budget has nothing to offer them apart from the corporate income tax rate cut which has been reduced to 25% for companies with turnover of upto Rs 250 crore. The budget will surely boost the rural economy and the healthcare scheme will benefit a large number of poor. Overall it is disappointing as no new jobs will be created in near future’

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