Chamber of Industrial & Commercial Undertakings through it’s press release, strongly condemn Punjab Budget 2022-23 presented today by Hon’ble Finance Minister S. Harpal Singh Cheema.
- Upkar Singh Ahuja, President CICU, while expressing grief said that Industry in Punjab feels betrayed and highly disappointed, as mere 100 Cr fund allocation for Industrial development is too less for Industrial growth out of Rs 1,55,860 crore state budget. He further said Industry is passing through a crucial and turbulent phase and a lot of expectations were at the State Budget for it’s way to recovery. No budgetary provisions are made for Export promotion nor any package for Halwara airport project is provided in the State Budget.
Industry plays an important role in the development of the State as it brings in New Technology, New Business and higher employment prospects for youth of Punjab. Punjab has been looming under a lot of stress as Industry is moving out of Punjab at a very rapid pace and the neighbouring states like Haryana, Himachal Pradesh, and Rajasthan are attracting these Industries with well sported Industrial Policies.
CICU request Government of Punjab and Hon’ble Finance Minister to reconsider the budgetary provisions and provide a handful of budget package for the Industry. Government contribution for cluster development should be increased, as this contribution attracts higher contributions from the Centre Government. Budgetary provision should be made for export promotion and development of Halwara Airport in Ludhiana.
