India Inc calls Budget 2013 balanced, realistic despite rich tax
Finance Minister P Chidambaram presented the Union Budget 2013-14 today. Here’s how the Indian corporates reacted to the budget. Check the captions for their quotes.
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Deepak Parekh, Chairman of Housing Development Finance Corporation: Realistic, balanced budget. Huge amount of incentive, growth factor that will kickstart economy.
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Samir Arora, founder, CEO and Chairman of the web design company NetObjects, Inc: Budget unexciting, no direction changing moves
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Chanda Kocchar, MD at ICICI Bank:Felt that the budget had done a great job of addressing the nation’s priorities of fiscal consolidation and bringing back investment
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MS Unnikrishnan, MD and CEO Thermax Ltd: The budget was absolutely on the expected lines. It was a very well balanced, classic Chidambaram budget.I don’t think the economy is going to tank after the budget. His emphasis on addressing CAD is a very positive move.
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Uday Kotak, Managing director of Kotak Mahindra Bank: Budget good for capital markets and investments. FM has lived up to his promiseon fiscal deficit.
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Madhusudan Kela, Chief Investment Strategist at Reliance Capital: Budget encouraging, no significant negative surprises. 4.8% Fiscal deficit looks credible.
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RC Bhargava, Chairman, Maruti Suzuki: There is nothing about the auto sector that has made me happy or unhappy. Stability is a good thing and so I’m happy.
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Ajay Shriram, Chairman and senior MD, DCM Sriram Consolidated Ltd. : It is very good that the budget has seen an increased allocation in social schemes and that infrastructure has been given emphasis. It’s an inclusive budget for development and it’s a positive sign for growth.
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Adi Godrej, President CII and Chairman, Godrej Group: There’s not one thing we can fault the finance minister for. We welcome his budget and feel that it will add to growth – the GDP will be better the next year. I congratulate him, as he was in a very difficult conditions.
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