President of Merchants’ Chamber of Commerce & Industry Namit Bajoria has highly praised the proposed 4 per cent interest subvention scheme for small and medium enterprises.
This intervention was proposed by the West Bengal Budget for 2024-25.
Mr Bajoria also appreciated the state government’s efforts at increasing bank credit to the SME sector in the state.
The MCCI president Mr Bajoria said: “The government’s move to improve transport infrastructure by building two river bridges and a long flyover and six logistic corridors across the state with Asian Development Bank support was in the right direction for economic and industrial growth.”
“The waiver of penalty and interest as a dispute redressal step would go a long way in resolving the long-standing issue of luxury tax for the hotel industry,” he added.