New Delhi, Feb 29 : Finance Minister P Chidambaram Union Budget proposals for 2008-09 has got the thumbs up from the industry and investment bankers, who described it as a "fantastic" job.
Confederation of Indian Industry (CII) President Sunil Mittal described the Budget as being on expected lines, "Although we are disappointed that the corporate tax has not been changed."
"Corporate taxes are at fair levels. An increase of five per cent on short-term capital gains will make people hold for medium term," Kotak Mahidra Bank Managing Director Uday Kotak said.
"This is a mixed budget and the FM has not touched upon the corporate tax, which we were anticipating. The focus is on agriculture and the education sector," said Sajjan Jindal, Vice-Chairman and Managing Director of JSW Steel said.
What was disappointing was the lack of concern for iron ore conservation and the need for taxes to be imposed on chrome ore export.