A discussion on Union Budget 2025-26 jointly hosted by the Malabar Chamber of Commerce (MCC) and the Southern India Regional Council of the Institute of Chartered Accountants of India (ICAI) in Kozhikode on Monday (February 3) hailed the Union government for considering a fair budgetary allocation for the steady growth of Micro Small and Medium Enterprises (MSME).
Experts who turned up for the discussions found the Budget as “middle-class friendly” with a vision to boost spending. Considerable allotment to important sectors such as tourism and education made it further commendable, they said.
Principal Commissioner of Income Tax Darzakhum Songate who opened the discussions said the latest Budget would fetch its benefits equally to the lower, higher, and upper-middle-class families in the country. He also said the middle-class-friendly Budget would encourage spending at its best and thus fuel the growth of the economy.
Delivering the keynote address, chartered accountant George Mathai Nooranal said that the Budget allocation for the agriculture sector was however not very high compared to that of the other sectors. “India is yet to consider the agriculture sector as one of the main industries. However, the higher allocation for the MSME sector is an encouraging move to promote better export and employment generation,” he said.
Sachin Sasidharan, vice chairman, ICAI, Kozhikode, presided over the inaugural session. MCC president Nityanand Kamath, secretary Paul Varghese, treasurer M. Abdurahiman, and ICAI (Kozhikode) secretary M. Albhudha Jyothi were among those who addressed the sessions which concluded with an open forum.
Published – February 03, 2025 07:47 pm IST