COTMA welcomed the announcements in Tamil Nadu budget, including the Coimbatore Metro project, allocation of funds for renovation of industrial training institutes and financial increase for MSMEs.
Coimbatore: The Coimbatore Tirupur District Micro and Cottage Entrepreneurs Association (COTMA) has welcomed the budget released by the Tamil Nadu government.
In a statement, the COTMA Association said, “Rs 2,877 crore will be allocated for renovation of ITIs across Tamil Nadu and Rs 2,789 crore will be allocated for setting up of 54 multipurpose industrial colleges, for the development of coimbatore district, a beautiful coimbatore project will be prepared through which roads, sanitation facilities and industrial parks will be established.
The micro, small and medium enterprises (MSME) sector funds will be increased over last year to Rs 1,509 crore, while the Coimbatore Metro rail project will be allocated Rs 9,000 crore. A special cell will be set up in the Tamil Nadu Mission for the upgradation of industrial estates. A sum of Rs.25 crores will be allocated to convert the existing industries into skill development schools to train the students. The COTMA Association welcomes the announcement that 10 lakh youth will be given vocational training in the coming financial year and Rs 50 crore will be allocated for the scheme to impart vocational training to students.
At the same time, the long-standing demands of the entrepreneurs that the minimum land area for setting up industrial parks should be reduced to 2 acres. A Micro Industries Development Bank should be created for micro enterprises, the increased electricity tariff and property tax should be reduced. Micro enterprises employing 5 persons and below should be exempted from industrial tax and entrepreneurial tax. Announcements should be made in the coming budget session and passed to help the micro entrepreneurs. “