Budget breaks for business to boost growth, job creation

Government plans to offer incentives to encourage small and medium size businesses in the upcoming budget. This word comes from Rudranath Indarsingh, Minister in the Ministry of Finance. He was at the time speaking with the T&T Guardian on Friday night at the formal launch of the $3 million Global Décor Centre Limited at Pacific Avenue, Point Lisas.

Indarsingh said was not at liberty to divulge more details but noted that small and medium size operations would be encouraged since these types of businesses play a pivotal role in economic growth and job creation. Indarsingh, who is also the Couva South MP, said  Couva had seen a number of small businesses popping up in the last year. He said this was an indicator that the business sector had confidence in the economy and the Government.

Dr Glenn Ramadharsingh, the Minister of the People and Social Development, who also attended Friday’s function said he hoped to get more money to deal with challenged communities. Ramadharsingh said he plans to spend the upcoming allocation wisely in bringing relief to those that needed it most. Ramadharsingh said $3.2 billion was given to his ministry in this current fiscal year of which $2.4 went towards paying pensions. He said pensions would always take a sizeable chunk of his ministry’s budget.