Hailing the Union Budget for the fiscal 2014-15 for giving emphasis on economy and agriculture sector, leading trade body Malabar Chamber of Commerce (MCC) today said the long and short term steps proposed aims to achieve overall development in the county. Reacting to the proposals presented to the Lok Sabha by Finance Minister Arun Jaitley yesterday, MCC President Alok Kumar Saboo in a release said more allocation made to the NABARD and relaxation allowed to those who refunded loan regularly were steps to boost agriculture. The proposals suggested to encourage power projects, raising of income tax ceiling, hike in tobacco products cess, tax relaxation on footwears, food articles, TV, LCD and mobile phones were some of the other welcome measures, he said. The chamber also hailed the proposal to set up a separate channel for agriculture, it added.
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