Ramanathapuram Chamber welcomes Union Budget

Welcoming the Union Budget, the Ramanathapuram district Chamber of Commerce president A. Asmabagh Anwardeen said that by increasing the income tax rebates, the Finance Minister has given a big relief to the middle class.

In a statement, he said that the reduction of basic structure of taxes on Customs duty imposed on life saving drugs too would go a long way in helping the needy people and those suffering from killer disease such as cancer.

The increase from ₹2.4 lakh to ₹6 lakh TDS on rent too was a welcome step as it would mean an increase on earnings for the middle class people, who rented their premises.

The announcement to waive customs duty on products such as lithium battery and among others would encourage small and tiny businesses to look for new ventures in the tech sector. The sale of mobile phones and electric vehicles too would increase as the sops would attract more people to buy sophisticated handsets and also to purchase EVs.