India Inc hails Mukherjee for retaining growth focus
Tuesday, 01 March 2011, 06:15 IST
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New Delhi: India Inc today cheered the Budget for 2011-12, stating Finance Minister Pranab Mukherjee has struck a fine balance between growth and tackling inflation, besides leaving excise rates untouched. Industry leaders, including top bankers, described the Budget "growth-oriented" which also has a focus on food productivity and supply chain for controlling inflation, particularly of edible items. As Mukherjee chose to continue with the stimulus, which was announced by way of excise cut during global meltdown, the industry leaders hailed the move. "It is a good budget ... I congratulate Finance Minister for not raising excise duties on vehicles," Bajaj Auto Chairman Rahul Bajaj said. ICICI CEO and Managing Director Chanda Kochchar said, "The process of (fiscal) consolidation has not come at the expense of reduced spending in important segments of the economy.
Source: PTI
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