Business will continue as usual even with over $30m decrease: Kumar
June 11, 2019 7:19 am
Business will continue as usual for the Ministry of Industry, Trade and Tourism even though its budget allocation has been cut by more than $30million.
Minister Responsible, Premila Kumar says she was expecting the decrease given the dampening of the world economy.
“Definitely a decrease, but that doesn’t mean we will not deliver. In fact the decrease is more related to some of the activities taken away from the Ministry. Example, FCCC was previously under the Ministry but that is no longer.”
Kumar says the recent national budget will revitalize businesses and encourage more small enterprises to start as incentives are readily available, boosting also the economy.
“The setting up of trade commission in India, the setting up of the central coordinating agency from micro-small medium enterprises to go online, to provide services online, I mean that’s the way forward.”
The Ministry has been allocated over $67 million in the new budget compared to $99.3million in the 2018/2019 Budget.