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Budget not upto expectations of industry: GCCI President
Economy

Budget not upto expectations of industry: GCCI President

Agency News

Panaji, Feb 1 : Goa Chamber of Commerce and Industry (GCCI) President Manoj Caculo on Saturday said that the Union Budget presented by Finance Minister Nirmala Sitharaman in the parliament was not up to the expectations of the industry.

Speaking to reporters after budget presentation, he said,''Whatever proposals have been put up not 100 percent of our expectations. The industry was expecting much much more. (However) In the same breath, I have to admit that there are a lot of things which government has proposed which will benefit the economy but all this is going to be a work in progress.''

''What we were expecting is some immediate decision, some immediate relief should have come to boost the economy which, unfortunately, we do not see in this budget. ...,'' he said. When asked about the sentiments of the industry after presentation of the Union Budget, Mr Caculo said there was no change in the sentiments of the industry after listening to the budget unless more came in fine print. ''Nothing specific had been announced for industries in Goa.

We were expecting much more. We don't want sops. Gone are the days when industries were expecting sops. We do not want subsidies or money but just create market for the industry which create demand but that unfortunately we do not see that in this budget,'' he said. The GCCI President said, however, the government had made enough proposals in the budget but they would take time to show the results.

''The intent is very good but it will show results for India tomorrow. But I think we want something today which is not there,'' he said. (UNI)