Bombay Chambers welcomes Budget 2011-12
Welcoming the Union Budget 2011-12 today presented by Finance Minister Pranab Mukherjee, the Bombay Chambers said it is very positive with a emphasise on inclusive growth
February 28, 2011 / 20:04 IST
Welcoming the Union Budget 2011-12 today presented by Finance Minister Pranab Mukherjee, the Bombay Chambers said it is very positive with a emphasise on inclusive growth.
"This is a very positive and growth oriented Budget, despite the constraints within which it was presented, where the focus is more on the inclusive growth," Bombay Chambers of Commerce and Industry (BCCI) Chairman Nitin Paranjpe told reporters here after the Union Budget 2011-12.Talking about individual sectors, he said, it is overall an excellent Budget, especially for the capital markets, infrastructure, micro finance and agriculture."Most of the moves are good for the economy and will be good for the industry as well," he said.The significant of all, he said, is reducing the pegging the fiscal deficit at 5.1% for the current financial year, and further reduction of the estimates to 4.6% for 2011-12.However, he said, the Finance Minister could have made the road map on Goods and Service Tax (GST) a little more clear."We wished that the finance minister could have explained a little more on the issue of DTC and GST and made it clearer especially on its road map," he said.Talking about the challenges, he pointed out that containing inflation, especially food inflation, and international oil prices will remain the biggest concern for the government as it can derail the overall growth. Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
