ASSOCHAM describe proposals of Budget 2011 as positive

ASSOCHAM cheers budget proposals aimed at reducing fiscal deficit. Apex chamber ASSOCHAM described the proposals of Union Budget for 2011-12 as positive and encouraging which attempt at reducing the fiscal deficit down to 5.1 per cent from the earlier estimate of 5.6 per cent for the current fiscal year and 4.6 per cent for the next.
 
The budget provides a roadmap for the fiscal 2011-12 with focus on encouraging agriculture and education sectors and ensuring that allocations are efficiently delivered, said The Associated Chambers for Commerce and Industry of India (ASSOCHAM).
 
The budget opts for bringing more services under the tax net and sets a clear direction for rolling out the Direct Tax Code from April 1, 2012, said its president Dilip Modi. There is no major increase in service tax and excise duties in view of buoyancy in government revenues.