Press Esc to close
Thursday 28 August 2014
News updated at 12:02 AM IST
Weather
Max: 28°C
Min : 20.2°C
In Bangalore
Generally 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
Abhishek Bachchan posing next to the Pro Kabbadi League trophy in Bengaluru ...

Abhishek Bachchan posing next to the Pro Kabbadi League trophy in Bengaluru ...

Imran Khan  supporter waves national and party flags during what has been dubbed a 'freedom march ..

Imran Khan supporter waves national and party flags during what has been dubbed a 'freedom march ..

England's Ben Stokes fails to get to a catch during the second ODI against India ...

England's Ben Stokes fails to get to a catch during the second ODI against India ...

Narendra Modi in a meeting with President of Asian Development Bank, Takehiko Nakao in New Delhi ...

Narendra Modi in a meeting with President of Asian Development Bank, Takehiko Nakao in New Delhi ...

Family members mourn during cremation procession of Lance Naik Dhananjay Kumar who was killed ...

Family members mourn during cremation procession of Lance Naik Dhananjay Kumar who was killed ...

Crowd during cremation procession of Lance Naik Dhananjay Kumar who was killed in an encounter ...

Crowd during cremation procession of Lance Naik Dhananjay Kumar who was killed in an encounter ...

Britain's Deputy PM Nick Clegg during the inauguration of the United Kingdom India Business ...

Britain's Deputy PM Nick Clegg during the inauguration of the United Kingdom India Business ...

Dhoni is bowled by England's Chris Woakes during their second one-day international cricket match ..

Dhoni is bowled by England's Chris Woakes during their second one-day international cricket match ..

MS Dhoni bails fly as he is clean bowled by England's Chris Jordan ...

MS Dhoni bails fly as he is clean bowled by England's Chris Jordan ...

A Lord Ganesha idol decorated with 'Laddus at famous Moti Doongari temple in Jaipur ...

A Lord Ganesha idol decorated with 'Laddus at famous Moti Doongari temple in Jaipur ...

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