Indian industry gives thumbs up to Budget
The Indian industry and investment bankers on Friday gave a thumbs up to the Union Budget, saying Finance Minister P Chidambaram has done a "fantastic" job.
"Budget is on the expected lines and the industry has not been penalised although we are disappointed that the corporate tax has not been changed," apex industry body CII's President Sunil Mittal said.
"Corporate tax are at fair levels. An increase of five per cent on short-term capital gains will make people hold for medium term," Kotak Mahidra Bank Managing Director Uday Kotak said.
Industrialist Sajjan Jindal, Vice-Chairman and MD of JSW Steel said: "This is a mixed budget and the FM has not touched upon the corporate tax, which we were anticipating. The focus is on agriculture and education sector." Although there is a little disappointment on not meeting the concerns on iron ore conservation and the taxes imposed on chrome ore export are also a long-pending demand of ours, which is a welcome step, he added.
Enter your email to get our daily newsletter in your inbox
- Here’s how you can calculate the EPF interest
- “Previous pay has no bearing on skills and the abilities of the applicant for work and that’s why we believe this must not be revealed if the employee does not want to.” EU Equality Commissioner Helena Dalli said.
- Haryana's rule affects firms including India's biggest carmaker Maruti Suzuki and business process outsourcing firms such as Genpact.