[sanjupalayat]

KOZHIKODE: The 2007-08 State BSaturday March 10 2007 11:55 IST
KOZHIKODE: The 2007-08 State Budget presented by Finance Minister Thomas Isaac has evoked mixed response from the trading community in city.

Like in the previous years, the budget was flayed for its ‘neglect of Malabar’, and the inadequacy of funds earmarked for the few ‘namesake’ development initiatives. But it was hailed for new exemptions under luxury tax, huge amounts earmarked for welfare projects and trader-friendly collection of tax arrears.

“The budget is silent on the special consideration assured for Kozhikode while the new IT policy was formulated,” said Malabar Chamber of Commerce president P Sakeer. The total amount of Rs. 10 crore earmarked for IT parks outside Kochi and Thiruvananthapuram would be inadequate, he added.

Expressing concern over the increasing revenue deficit, the Chamber president also criticised the FM for not earmarking adequate amount for the development of Beypore Port. He, however, lauded welfare programmes in various sectors including agriculture and tourism besides the initiatives in drinking water projects.

Citing the drawbacks of the Malabar Shopping Festival held in Kozhikode in January-December, Calicut Chamber of Commerce and Industry secretary P T S Unni urged the Finance Minister to ensure the support of traders before organising the Rs.15 crore Kerala Shopping Festival.

“Kozhikode appears to have been ignored considering the development proposals for Kochi and Thiruvananthapuram,” he added.

Welcoming the allotment of Rs.1 crore for road development in city and other projects in Malabar including proposed medical lab in Kannur, Unni said the budget was trader-friendly for its simplified proposals for collection of tax arrears.

Holding it to be a balanced budget, Kerala Vyapari Vyavasayi Ekopana Samithi state president T Nazirudeen said the sales tax’s entry with one percent tax in the textiles sector would create problems ‘in this sector where Kerala employs maximum people’.

The city-based Tax Payers Association welcomed the institution of awards for tax payers and the proposal to conduct adalats for collection of tax dues