Pondy CII welcomes budget

Puducherry, Mar 1 (UNI) Puducherry CII Chairman C Chinnasamy today complimented Finance Minister P Chidambaram for presenting an ''inclusive and balanced'' budget.

In a statement here, he said the budget focused on crucial sectors like agriculture, education, health and defence. The increase in fund allocation to these sectors would definitely boost the economy. He said the revision of income tax slabs for salaried class and the excise duty cut on small cars and two wheelers were welcome.

Puducherry CII Vice-Chairman Sriram Subramniya, in a statement, said the massive farm loan waiver was a welcome.

He said though the industry expected a reduction in corporate tax, it did not happened.

All export companies also expected some tax concessions in the wake of rupee appreciation and global recession, he added.

UNI PAB AJ 1504