This being a last budget before general election looks very interesting. People are expecting it to be a populist budget. But looking at the history of Mr. Chidambaram it appears that this should be a populous budget with sops to restart infrastructure cycle and reforms to control fiscal deficit.
Three wheeler manufacturer, Atul Auto today reported 65 per cent surge in the net profit at Rs 15.59 crore for the FY:2011-12 ending March, on back of higher sales.
We expect that 2% excise duty, especially on three wheelers, should not be raised as it is the cheapest and safest mode of transportation, says Vijay Kedia, Director, Atul Auto.
The government's move to divest its stake in beleaguered Scooters India Ltd is running into rough weather, with another possible bidder Atul Auto today saying it will pull out of the race if the process takes long.
Vijay Kedia, director of the Rajkot-based auto company, in an exclusive interview, said, "the company had exposure only in the three-wheeler space. Hence, we are diversifying portfolio to high-growth businesses."