Press Esc to close
Saturday 05 September 2015
News updated at 3:29 AM IST
Weather
Max: 34°C
Min : 22°C
In Bengaluru
Rain lightly

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
People travelling on the roof a passenger train to particapte in Janmashtami festival in Mathura...

People travelling on the roof a passenger train to particapte in Janmashtami festival in Mathura...

Sachin Tendulkar attends the Isha Gramothsavam, a rural revitalization programme in Coimbatore...

Sachin Tendulkar attends the Isha Gramothsavam, a rural revitalization programme in Coimbatore...

Forest officials welcome first batch of Dasara elephants...

Forest officials welcome first batch of Dasara elephants...

Traditional Yakshagana artist performs dance...

Traditional Yakshagana artist performs dance...

People buying Lord Krishna idols on the eve of Sri Krishna Janmashthami...

People buying Lord Krishna idols on the eve of Sri Krishna Janmashthami...

A view of heavy traffic jam on Delhi-Gurgaon Expressway in Gurgaon on Friday...

A view of heavy traffic jam on Delhi-Gurgaon Expressway in Gurgaon on Friday...

One horned rhinoceros at a submerged area of the Kaziranga National Park in Assam...

One horned rhinoceros at a submerged area of the Kaziranga National Park in Assam...

Students from various parts of Karnataka perform Group Dance during the Samskrutika Habba...

Students from various parts of Karnataka perform Group Dance during the Samskrutika Habba...

Chennai- Mangalore Express derailment...

Chennai- Mangalore Express derailment...

Ducks on top of a submerged house in a flood affected village near Kaziranga...

Ducks on top of a submerged house in a flood affected village near Kaziranga...

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