Press Esc to close
Sunday 11 December 2016
News updated at 1:17 PM IST
Weather
Max: 28°C
Min : 15.4°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
Indian sitar player and composer Anoushka Shankar performs at the live concert...

Indian sitar player and composer Anoushka Shankar performs at the live concert...

I-T department seized Rs 5.7 cr cash in new notes, 32kg bullion and jewelery and Rs 90 lakh...

I-T department seized Rs 5.7 cr cash in new notes, 32kg bullion and jewelery and Rs 90 lakh...

International Animal Rights Day and Human Rights Day in Bengaluru...

International Animal Rights Day and Human Rights Day in Bengaluru...

Laborers remove weeds from Dal Lake on a cold and foggy day in Srinagar...

Laborers remove weeds from Dal Lake on a cold and foggy day in Srinagar...

President Pranab Mukherjee with Tibetan spiritual leader, the Dalai Lama during the inaugural...

President Pranab Mukherjee with Tibetan spiritual leader, the Dalai Lama during the inaugural...

A view of the illuminated Ajmer Sharif Dargah decorated for the upcoming Jashne Eid E Milad...

A view of the illuminated Ajmer Sharif Dargah decorated for the upcoming Jashne Eid E Milad...

Former Indian football captain Baichung Bhutia in Lamborghini four wheeler during Air Strip...

Former Indian football captain Baichung Bhutia in Lamborghini four wheeler during Air Strip...

A sand sculpture created by renowned sand artist Sudarsan Pattnaik with message 'Good Luck...

A sand sculpture created by renowned sand artist Sudarsan Pattnaik with message 'Good Luck...

Bollywood Actor Shah Rukh Khan with director-producer Abbas-Mustan during the Muhurat for...

Bollywood Actor Shah Rukh Khan with director-producer Abbas-Mustan during the Muhurat for...

Migratory Siberian seagulls birds flying over the Ganges in Allahabad on Saturday...

Migratory Siberian seagulls birds flying over the Ganges in Allahabad on Saturday...

Like us on Facebook

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