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      Raipur, February 08, 2014: Terming the State budget as balanced and satisfactory PHD Chamber of Commerce and Industry, Chhattisgarh Committee Chairman Pradeep Tandon said, Chief Minister Dr Raman Singh’s proposed relief on taxes through reasonable tax policy structure of the state will help in promotion of small and cottage industries which is need of the hour.

      A Provision of Rs. 26 crore on development industrial infrastructure will further promote the industry.

     The PHDCCI welcomed the decision of abolishing Entry Tax on iron ore, pig iron and steel scrap purchased from outside the state. Reduction of VAT on Steel scrap, pig iron, iron ore palate from five per cent to two per cent would further help in sustaining the industries.

     The reduction of commercial tax from two per cent to one per cent for small & Medium Steel Industries has also been welcomed.

      The decision of exemption of VAT registration for small traders has also been welcomed.

     The abolition of VAT on soya industries for SHG group ventures would now make their product more competitive.

     Declaration of Sirpur as major centre for Buddha Tourism would encourage foreign tourism and would promote growth of Hotel industry, tour, travels business and help open new avenues of employment for the local youths, the PHDCCI said in a statement.
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