Union budget represents a mixed bag: CII

Bhubaneswar,Feb 28 (UNI) CII Orissa chapter chairman Subhrakanta Panda today said inflation being a matter of concern, the industries will be disappointed at the absence of any reform measures such as reduction of excise duty.

Mr Panda said the burdening corporate further by way of of higher dividend distribution tax could have been avoided and would have helped void negative sentiments.

He said the thrust on agriculture, education, health and infrastructure development was a positive step and urged the Centre to utilise the portion of vast forex reserve to fund domestic infrastructure projects as indicated by the Union Finance Minister.

CCI Orissa past Chairman J B Pani said the union budget has provided only a lip service to the aspiration objective of ten per cent growth from the new plan period.

But Industry by and large would be adversely affected especially the cement and IT industry,he stated.

UNI