Press Esc to close
Saturday 02 July 2016
News updated at 11:01 AM IST
Weather
Max: 28°C
Min : 20°C
In Bengaluru
Partially cloudy

India Inc gives thumbs up to the Union Budget

New Delhi, Feb 28, 2013 (PTI):
File photo.

India Inc today gave a thumbs up to the UPA-II's last Union Budget before the general elections next year and said Finance Minister P Chidambaram presented a "bold" and "growth-oriented" Budget.

Hailing the announcements, industry chamber CII said the Budget focuses on growth and attracting more investments.

"Many proposals are development-inclusive. It will add to the country's Gross Domestic Product (GDP) growth. We are particularly glad to see incentives for agricultural sector, MSME sector, infrastructure and capital market," CII President Adi Godrej said.

Sharing similar views, Ficci President Naina Lal Kidwai said this is a responsible Budget. "I think that growth is central... The Budget has stressed on the issue of growth and creation of more jobs."

Assocham Secretary General D S Rawat said : "The Finance Minister has presented a bold and pragmatic Budget, ahead of the general elections next year. It is an investor-oriented and growth-oriented Budget."

Besides, the chamber said, the Budget has focused on human resource and rural agriculture sector without touching and giving pains to any section of the society.

Aiming at higher growth rate for inclusive and sustainable development and to revive manufacturing, Chidambaram hiked outlays for health, water and sanitation, SCs/STs and tribals welfare and rural development.

Also, he proposed a sharp increase of Rs 1.25 lakh crore in agriculture credit target to Rs 7 lakh crore for the next fiscal.

On a 10 per cent surcharge on super-rich for a year on income above Rs one crore, Ficci said, "We would have preferred no disturbance in the tax regime. But the fact is that we have to bear it."

PHD Chamber of Commerce and Industry said the projection of Fiscal Deficit is encouraging with the view that fiscal consolidation is critical for the economy to move towards growth.

The fiscal deficit for the current financial year has been contained at 5.2 per cent of GDP, lower than 5.3 percent, the Finance Minister said today.


Go to Top

Photo Gallery
Dark clouds over the Golden Temple in Amritsar on Friday...

Dark clouds over the Golden Temple in Amritsar on Friday...

Thomas Shannon, US Under Secretary of State for Political Affairs prays besides Mother's tomb...

Thomas Shannon, US Under Secretary of State for Political Affairs prays besides Mother's tomb...

An eagle on the premises of the Government Ayurveda College and Hospital in Mysuru on Friday...

An eagle on the premises of the Government Ayurveda College and Hospital in Mysuru on Friday...

Bollywood actors Kalki Koechlin and Imaran Khan during the special screening of short film...

Bollywood actors Kalki Koechlin and Imaran Khan during the special screening of short film...

Muslims offering last Friday prayers in front of Tipu Sultan Mosque in Kolkata during the holy...

Muslims offering last Friday prayers in front of Tipu Sultan Mosque in Kolkata during the holy...

People climb stairs at Agrasen ki Baoli in New Delhi...

People climb stairs at Agrasen ki Baoli in New Delhi...

A priest performs worship near Light Combat Aircraft (LCA) Tejas during a ceremony...

A priest performs worship near Light Combat Aircraft (LCA) Tejas during a ceremony...

Police personnel with the bikes after the launch of 'Rapid Rural Police Response System' at Punjab..

Police personnel with the bikes after the launch of 'Rapid Rural Police Response System' at Punjab..

Thomas Shannon, US Under Secretary of State for Political Affaira visits the country's oldest...

Thomas Shannon, US Under Secretary of State for Political Affaira visits the country's oldest...

A peocock flies at the Rajbhavan in Mumbai on Friday...

A peocock flies at the Rajbhavan in Mumbai on Friday...

Copyright 2014, The Printers (Mysore) Private Ltd., 75, M.G Road, Post Box 5331, Bengaluru - 560001
Tel: +91 (80) 25880000 Fax No. +91 (80) 25880523