Budget 2013: Manufacturing, Infrastructure Gets Boosts

Bangalore: "The finance minister has done a commendable job in containing the deficit while simultaneously addressing the growth imperatives. We need to create 10 million jobs a year for the duration of the 12th Plan which can be achieved only if we reach eight percent GDP growth level," Prime Minister Manmohan Singh said.

"The budget will revive the manufacturing sector which had come under stress. The biggest takeaway for the sector is the investment allowance. Besides, the boost to the infrastructure sector in terms of raising of the limit for tax free bonds to 50,000 crore for 2013-14 will have a positive spillover for the overall economic growth," said Rajkumar Dhoot, President of Assocham (Assosciated Chambers of Commerce and Industry).

"Firstly, what struck me is the note that the finance minister said in the beginning, that there is a need to communicate and there is need to. I would say it creates a feel-good atmosphere and he did that because if you see, this was one budget where there was very little interruption from other members of Parliament and we have to compliment the finance minister for managing this in what everybody thought was going to be a very difficult year,” KV Kamath, Chairman, Infosys told to ET Now.

Read:
10 Budget Terms You Must Know
Union Budget 2013: SUVs, Smartphones, Cigarettes To Cost More