Mumbai: The All India Association of Industries (AIAI) has welcomed the increase in budgetary allocations towards the infrastructure and agricultural sectors and SMEs for export.
The increased allocation towards Railways, national highways, gas grid in the infrastructure sector will not only generate employment but will stimulate growth, AIAI president Vijay Kalantri said reacting to the General Budget 2009-10.
''Some of the positive and favourable features of the Budget are increased in allocation by 23 per cent towards National Highways, Rs 5,000 crore towards railways and higher allocation for gas grid, Rs 7,000 crore towards rural electrification and 87 per cent increase in the JNNRUM Scheme,'' he said.
The increase in allocation by 75 per cent towards Irrigation sector will give a boost to the Agro Industries, Mr Kalantri observed.
AIAI also welcomed the increase in allocation to Market Development Scheme and Rs 4,000 crore Special Fund to be operated by Banks for SMEs and exports and said this will certainly assist the SMEs to revive from the recessionary trend, he added.
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