Mixed response in city over budget

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Pune, Feb 29 (UNI) A cross section of people here felt that a populist proposals have been made as elections are round the corner, while the industry people opined that it may create a mismatch between demand and supply, but educationists expressed satisfaction over Budget 2008-2009, presented by Union Finance Minister P Chidambaram.

Talking to UNI, Kinetic Group Chairman Arun Firodia said, ''The reduction in excise duties on two wheelers from 16 to 12 per cent would boost the demand and the cost of the vehicles would come down by 4 per cent. However, I am worried about the supply side as nothing has been said about infrastructure.'' ''Welcome features of the budget are loan waivers for long suffering marginal farmers and reduction in personal income tax, While the not so welcome features are that revenue deficit continues to exist and that non-plan expenditure is double of plan expenditure,'' he said.

NK Minda Group Managing Director Nirmal K Minda, commenting on the budget, said, ''The budget has a lot of positives for us as an Auto Component Manufacturing group. Reduction of excise duty on two and three wheelers should lead to a price reduction and consequent spurt in demand.'' Meanwhile, Zensar Technologies Deputy Chairman and Managing Director, Mr Ganesan said, ''The last budget of the present government was expected to be populist and short of any significant growth agenda and it did not belie those expectations.

With one eye firmly on the vote banks, the Finance Minister's whopping farmer loan write-offs and absence of any intent towards boosting industrial investments left many analysts and CEOs cold.'' ''The conscious shift in expenditure towards health, education and the rural sector were all on expected lines but did leave industry asking for more for their own sectors,'' he added.


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