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Industry bodies from Marathwada welcome Union Budget

The Chamber of MarathwadaIndustries and Agriculture (CMIA) hailed the Union Budget presentedby Finance Minister Arun Jaitley in parliament on Thursday. Talking to UNI here, former president of CMIA Ashish Garde describedit as the development oriented and said it would specially benefit food-processing industry, defence-related industries and Mudra Yojana. He also welcomed the Budget announcement of the lowering ofcorporate tax by 25 per cent to the companies having annual turnoverof Rs 250 crore, which was Rs 50 crore till date. Mr Garde also welcomed the announcement of new 24 medical collegesin the country and the launch of a flagship National HealthProtection Scheme that will cover 10 crore families.

Farmers, dalits and tribal communities will gain from this Budget,he added. Meanwhile, Marathwada Small Scale Industries Association andAgriculture (MSSIAA) member Arjun Gaike also welcomed the Budget provisionsand said that the Finance Minister has declared the farmers-orientedproposals which will help the farmers from across the country. The development of railway lines, electrification and increasing thefrequency of suburban trains in Mumbai is also a good sign, he noted. The Budget is also beneficial to the Micro, Small and MediumEnterprises (MSMEs) due to the lowering of corporate tax which will improve the possibility of employment creation in near future, he added.