GUWAHATI: Federation of Industry and Commerce for North Eastern Region (FINER) has broadly welcomed the interim budget presented on Saturday. Allocation of budget to the North East of Rs 58 thousand crores, up by 21% and provision for water transport through port connectivity will provide the much-needed impetus to the region. Income Tax relief for income up to Rs 5 lakh will benefit salaried class and small businesses and augment consumption. Benefits of KCC loans will now be available to Animal Husbandry and Fishery sectors favourable to the NE region. Support to the housing sector will help in boosting the Housing sector. Exemption on notional rent from the 2nd house will be a relief to the middle class. Rural transformation and employment generation is being well supported by MGNREGA budget over 60 thousand crores, PMGSY at 19 thousand crores and Ayushman Bharat at 3 thousand crores, will ensure security for the rural population. Overall FINER is of the view that these measures will favourably benefit society at large and promote consumer spending, housing projects and employment generation.
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