Zeenews Bureau
New Delhi, July 07: India Inc was all praise for Pranab for delivering a balanced growth-oriented budget despite the pressure on the government’s finances due to the ongoing global slowdown.
During their fist interaction with the Finance Minister post-Budget, they called the move by the FM to go for an increased fiscal deficit to ensure that growth continues as ‘brave’ and all help to the govt in bringing the country back on growth track.
ASSOCHAM president Sajjan Jindal thanked the FM for presenting a balanced Budget. He also mentioned the key challenges facing the economy viz - managing fiscal deficit, roadmap on disinvestment and pushing agricultural growth.
On the reasons behind the thumbs down by the stock markets to the budget, Jindal said that the markets reacted negatively because they had expected FDI relaxations and some announcement on taking the disinvestment process forward.
Venu Srinivasan president of CII also praised Pranab for his Budget, saying that a very fine balancing act has been carried out in midst of very difficult circumstances.
Venu added that raising fiscal deficit is a cause of concern but the CII has confidence in the government.
FICCI president Harshpati Singhania while thanking Pranab said that FICCI is a votary of an investment lead growth, hence are happy that the Budget lays emphasis on massive infrastructure investments, particularly in the rural sector.
