Budget Reactions

  • Of everything else, budget unites Opposition February 26, 2010

    And for the first time ever, the opposition walked out when the budget speech was being delivered. The government is concerned as the instances of the entire opposition ganging up against it are in the rise. It was a rare show of unity among all shades of Opposition and the...
  • Lalu's Budget ire: Pranab, Mamta failed people February 26, 2010

    New Delhi: "Dada and Didi have failed the people." This was how RJD chief Lalu Prasad vented his ire against the general and railway budgets in his inimitable style. "Dada and Didi have failed the people. Both are concerned only about West Bengal. The county had seen Didi a few days...
  • FM addressed issues of fiscal consolidation: Future Generali February 26, 2010

    Post the budget announcement Mr. Deepak Sood, CEO & MD, Future Generali India life insurance Co Ltd said "The Finance Minister has addressed the two most crucial issues of economic growth & fiscal consolidation. To support economic growth, he has significantly enhanced allocation for infrastructure, road, transport, power, education, agriculture...
  • Budget is good for the domestic economy: Apollo Munich February 26, 2010

    Reaction of Shobana Kamineni on the Union Budget 2010. "I think this budget is good for the domestic economy. The government seems to be doing its bit towards economic recovery. The decision to broaden the tax exemption limits and to provide increased level of tax exemption under section 80C is welcome...
  • Budget reaction by Sahara Prime City Limited February 26, 2010

    Postbudget reaction for Mr. Sushanto Roy, CEO, Sahara Prime City Limited. "I congratulate the Hon'ble Finance Minster for a very realistic budget. This budget goes on to prove present Government's pragmatic approach instead of a populist one. The Hon'ble Finance Minister, Mr. Pranab Mukherjee has chosen a very balanced approach in...
  • Budget a boost to domestic growth: Gitanjali Group February 26, 2010

    Quote on Union Budget for 201011 by Mr Mehul Choksi CMD, Gitanjali Group and Chairman, FICCI Gems & Jewellery Committee "The overall thrust of the budget is positive and it will provide a boost to domestic consumption and growth. The revised tax rates will certainly mean greater disposable income for domestic...
  • Budget good for Indian economy: Raheja Developers February 26, 2010

    The budget presented by the Finance Minister is good for the Indian economy. We appreciate the decision of Finance Minister to continue the stimulus package. The budget is focused on the overall infrastructural development of the country including the rural sector. But the Finance Minister has not considered...
  • Budget has nothing new for IT Industry: Vikas Khanvelkar February 26, 2010

    "Budget has nothing new for the IT Industry. 2 % increase in excise duty on all the products will not have a very significant adverse impact on the demand and hence the production. " "Rise in petrol and diesel prices will increase the inflation which is already very high." "Substantial increase...
  • Life insurers to save, policy holders to benefit February 26, 2010

    Chennai: Finance Minister Pranab Mukherjee's budget may have rejected major demands of life insurers, but the proposal to treat life insurers at par with the mutual fund sector in respect of service tax is expected to add around Rs.300 crore to their kitty. "Earlier life insurers were paying service tax on...
  • Budget has vision to globalise India: Xerox India February 27, 2010

    XEROX : Please attribute the same to Mr. Andrew Horne, Managing Director, Xerox India The Union Budget for 20102011 is a budget in the positive direction. The impressive growth of the manufacturing sector in the third quarter of current year has reinforced that the economy is reviving but we need...
  • CII welcomes Budget 2010, calls it a 'fine balancing act' February 26, 2010

    The Finance Ministers fine balancing act is visible in the budget proposals where on the one hand he has clearly set the roadmap for fiscal consolidation by setting the targets for fiscal deficit reduction over the next three years, raising resources for capital expenditure by setting disinvestment targets and partially...
  • Budget takes care of small taxpayers: Aseem Chawla February 26, 2010

    Budget Reaction from Aseem Chawla, Partner Amarchand & Mangaldas & Suresh A. Shroff & Co. While the full text of Finance Bill, 2010 is eagerly being awaited, it is felt that the UPA Government while presenting the tax proposals in the Budget 201011 has made a collective conscious effort albeit...
  • Budget has maintained status quo: Siddarth Shankar February 26, 2010

    Reactions to the Union Budget 2010 presented by Finance Minister Pranab Mukherjee have started pouring in from across the industry sectors. Siddarth Shankar, Economist at Kassa Financial Services believes that overall, Fridays budget has maintained a "status quo." "The reduction in personal income tax rate will have a direct impact on...
  • Exporters demand speedier service tax refunds July 22, 2009

    New Delhi: Keeping the current global scenario in mind, the Finance Ministers Budget proposals on indirect taxes focused primarily on providing a stable framework to the industry at large, with a specific emphasis on the export sector which has been greatly impacted in recent times due to the decrease...
  • Budget 2009: A mix bag of hits and misses July 9, 2009

    Taking the HRD Minister, Kapil Sibals vision forward of revolutionising the education system (primarily school level), in India, Finance Minister, Pranab Mukherjee has laid emphasis on the cause of higher education. FM has announced an increase of Rs 2000 crore in plan expenditure to Rs 9,596 crore besides other sops...
  • BJP Budget Blues: Party economists go missing July 8, 2009

    New Delhi: The BJP is grappling with unique problem these days. The party is finding it hard to articulate its views on economic issues in the Budget Session for former finance ministers Jaswant Singh and Yashwant Sinha and the formulator of the party's economic agenda, Arun Shourie, are not showing...
  • Watch: Indian families welcome Budget '09 July 7, 2009

    Markets reacted with shock on Monday but Budget 2009 has brought some relief to the aam admi, with no more Fringe benifit taxes and the income tax exemption limit raised. ...
  • Fiscal deficit a cause for worry: Parag Saxena July 7, 2009

    New Silk Route Partner's Fund CEO Parag Saxena was confident of the markets improving post Budget, but added that the fiscal deficit, and the divestment situation are still worrisome. ...
  • Transfer pricing: Tax proposals in the right direction July 7, 2009

    Finance Bill, 2009 has introduced certain amendments in the transfer pricing provisions. The primary amendments are the introduction of the concept of Safe Harbour Rules and Alternate Dispute Resolution(ADR) mechanism. The Finance Bill 2009 proposes to introduce Safe Harbour rules by empowering Central Board of Direct Taxes, an apex tax...
  • The verdict: CNNIBN panelists rate Pranab's Budget July 7, 2009

    Is the Budget 2009 good, bad or just plain average? CNNIBN's dream panelists rate Pranab Mukherjee's Budget. While some of our panelists were impressed with the Finance Minister's job, others were clearly disappointed. ...
  • Face The Budget: Political response to Budget 0910 July 7, 2009

    On Monday Finance Minister Pranab Mukherjee presented the muchawaited first Budget of the second UPA Government. CNNIBN's special series on Budget Face The Budget tried to access the political response to the Union Budget 200910. The panel of experts included HRD Minister Kapil Sibal; Leader of the Opposition in...
  • Tata Steel MD rates Budget as 'balanced' July 6, 2009

    Managing Director of Tata Steel, B Muthuraman on Union Budget 200910. I rate Union Budget FY 10 as a balanced budget, which is high on the vision and provides the roadmap of Government priority in the second term. FMs commitment to restore the growth rate to 9 per cent,...
  • Canon India, Kotak Mahindra react to new Budget July 6, 2009

    New Delhi: The Union Budget 2009 has been welcomed by the India Inc. Here are two of India's business majors' reaction to the budget. Group Head Retail Liabilities & Branch banking, Kotak Mahindra Bank KVS Manian says, ""The budget is a reflection of the down to earth approach of both the...
  • Budget left out the common man: Left parties July 6, 2009

    New Delhi: The Union Budget has unfolded the contradiction between interests of the aam aadmi and the corporates and has failed to address challenges facing the country, Left parties said on Monday. "Though a lot has been talked about the aam aadmi, the actual allocations do not match the intent (to...
  • SP joins opposition in criticising Budget July 6, 2009

    New Delhi: Samajwadi Party, which is extending support to the government, on Monday joined the opposition in ridiculing the General Budget, terming it as "sour", "tepid" and "unimpressive". RJD chief Lalu Prasad, who had criticised the Rail Budget two days back despite his association with the ruling UPA, however, struck...
  • Higher Plan outlay to accelerate growth: Chidambaram July 6, 2009

    New Delhi: Higher Plan outlay in the Budget will provide stimulus to the economy and accelerate the growth process, Home Minister P Chidambaram said on Monday. "The Budget for 200910 has been prepared with great skill and wisdom with the objective of stimulating the economy and returning to the high...
  • MK hails 500 cr for Lankan Tamils July 6, 2009

    Chennai: Tamil Nadu Chief Minister M Karunanidhi on Monday welcomed the announcements made in the Union Budget including allocation of Rs 500 crore for rehabilitation of Tamil refugees in Sri Lanka. "I express my thanks for the allocation of Rs 500 crore towards rehabilitation of Sri Lankan Tamils as announced earlier...
  • Stockbrokers disappointed with Union Budget July 6, 2009

    Mumbai: Stock Brokers on Monday expressed disappointment over absence of relief on Corporate tax and Security Transaction tax (STT) in the Union Budget, tabled by finance minister Pranab Mukherjee in Parliament. The Sensex crossed the 15k level minutes after the trading started on expectations of lowering of Security Transaction Tax and...
  • Budget lackadaisical: BJD July 6, 2009

    New Delhi: Terming the Budget as "antipoor, antifarmer with nothing for Orissa" the Biju Janata Dal on Monday said it has failed to touch the common man in general. Talking to the media, senior BJD leader Prassana Patsani said in a agricultural country like India, where water is a highpriority commodity,...
  • Nitish Kumar slams Budget as antiBihar July 6, 2009

    New Delhi: Janata Dal (United) MPs walked out from the Lok Sabha protesting stepmotherly treatment to Bihar in the Union Budget. As soon as Union Finance Minister Pranab Mukherjee finished his Budget speech JD(U) leader Sharad Yadav stood up protesting lack of any relief and rehabilitation for those affected by Kosi...