Kochi, Feb 28 (UNI) The Kerala Chamber of Commerce and Industry(KCCI) today lauded the Union Budget 2007-08 for its initiatives in agricultural sector but took exception for inadequate consideration to check inflation.

In a statement here, Chamber President E S Jose said the budget, which was presented by P Chidambaram, gave preference to agricultural sector and farm workers but has not given adequate consideration to check the price rise except the proposal for exempting the essential commodities from future trade.

The Chamber also welcomed the increase in the central excise exemption for SSI from Rs one crore to Rs 1.5 crore.

Mr Jose said the concession in the central excise and customs duty would be beneficial for the domestic trade.

He said Kerala would benefit from concession given to plywood, tea, coffee, coir and coir products but the reduction in the customs duty for edible oil would adversely affect the interests of the state.

The subsidies announced for the fertilisers would be helpful for the FACT, Mr Jose added.

The budget has not provided adequate importance to tourism and infrastructure development, he added.

UNI