<p class="title">Kanara Chamber of Commerce and Industry (KCCI) on Tuesday welcomed e-initiatives in the budget including Digital Rupee, E-passport and Unified Logistics Interface, Digital University and PM E-Vidya.</p>.<p class="bodytext">"We also welcome the business-friendly steps, including the extension of emergency credit line guarantee scheme (ECGC) and battery swapping policy," said KCCI president Shashidhar Pai Maroor.</p>.<p class="bodytext">The cost of logistics in India is around 14% and the GDP compared to the global average is 8%. If the government and industry reduce this cost, it will improve profitability for businesses and India will remain competitive in international markets, he said.</p>.<p class="bodytext">Welcoming the Union budget's big spending on the logistics sector, national highway expansion, Maroor hoped that such spending will include an allocation for better connectivity between Mangaluru and Bengaluru.</p>.<p class="bodytext">Well-known chartered accountant Giridhar Kamath said he will give seven out of 10 marks for the budget.</p>.<p class="bodytext">"It's a budget for digital 'yuga'. No appeasement, not influenced by ensuing elections," he said.</p>.<p class="bodytext">District Small Industries Association (DSIA) President Vishal L Salian welcomed the Centre's move to extend the ECLGS scheme upto March 2023.</p>.<p class="bodytext">The pandemic has derailed the MSME sector, he said and hoped that nationalised and private banks will implement this scheme.</p>.<p class="bodytext">Karkala-based freelance journalist Indira said taxpayers were disappointed as there were no changes in the income tax slabs.</p>.<p class="bodytext">"It's a fact that the huge capital expenditure will create a lot of employment opportunities as an immediate effect and is a big relief for the worst-hit working class. Encouragement to organic farming is a plus point," she said.</p>.<p class="bodytext">Mangalore South MLA D Vedavyas Kamath said the budget is pro-people. By reducing tax on gold, cell phones, clothes, a huge burden has been eased on the shoulders of the middle class.</p>.<p class="bodytext">MLC and District Congress Committee President K Harish Kumar said the budget does not accord priority to any schemes.</p>.<p class="bodytext">"Agriculture and tourism have been completely neglected," he added.</p>.<p class="bodytext">Former minister B Ramanath Rai said the rich are to benefit more from the budget.</p>.<p class="bodytext">Deputy Leader of Congress Legislative Party U T Khader said the budget by institutionalising digital currency is legitimising black money.</p>.<p class="bodytext">"This is the worst budget in 75 years," declared Khader.</p>
<p class="title">Kanara Chamber of Commerce and Industry (KCCI) on Tuesday welcomed e-initiatives in the budget including Digital Rupee, E-passport and Unified Logistics Interface, Digital University and PM E-Vidya.</p>.<p class="bodytext">"We also welcome the business-friendly steps, including the extension of emergency credit line guarantee scheme (ECGC) and battery swapping policy," said KCCI president Shashidhar Pai Maroor.</p>.<p class="bodytext">The cost of logistics in India is around 14% and the GDP compared to the global average is 8%. If the government and industry reduce this cost, it will improve profitability for businesses and India will remain competitive in international markets, he said.</p>.<p class="bodytext">Welcoming the Union budget's big spending on the logistics sector, national highway expansion, Maroor hoped that such spending will include an allocation for better connectivity between Mangaluru and Bengaluru.</p>.<p class="bodytext">Well-known chartered accountant Giridhar Kamath said he will give seven out of 10 marks for the budget.</p>.<p class="bodytext">"It's a budget for digital 'yuga'. No appeasement, not influenced by ensuing elections," he said.</p>.<p class="bodytext">District Small Industries Association (DSIA) President Vishal L Salian welcomed the Centre's move to extend the ECLGS scheme upto March 2023.</p>.<p class="bodytext">The pandemic has derailed the MSME sector, he said and hoped that nationalised and private banks will implement this scheme.</p>.<p class="bodytext">Karkala-based freelance journalist Indira said taxpayers were disappointed as there were no changes in the income tax slabs.</p>.<p class="bodytext">"It's a fact that the huge capital expenditure will create a lot of employment opportunities as an immediate effect and is a big relief for the worst-hit working class. Encouragement to organic farming is a plus point," she said.</p>.<p class="bodytext">Mangalore South MLA D Vedavyas Kamath said the budget is pro-people. By reducing tax on gold, cell phones, clothes, a huge burden has been eased on the shoulders of the middle class.</p>.<p class="bodytext">MLC and District Congress Committee President K Harish Kumar said the budget does not accord priority to any schemes.</p>.<p class="bodytext">"Agriculture and tourism have been completely neglected," he added.</p>.<p class="bodytext">Former minister B Ramanath Rai said the rich are to benefit more from the budget.</p>.<p class="bodytext">Deputy Leader of Congress Legislative Party U T Khader said the budget by institutionalising digital currency is legitimising black money.</p>.<p class="bodytext">"This is the worst budget in 75 years," declared Khader.</p>