Industry speaks up

It was an uneventful budget. The finance minister has steered clear of making any major policy announcement...

* Harsh Neotia,industrialist:
It was an uneventful budget. The finance minister has steered clear of making any major policy announcement. There is a clear emphasis on the social sector and we welcome this. But we are concerned about the fiscal and revenue deficit and the current economic situation requires more fiscal boost and financial stimulus packages.

* Sandipan Chakraborti,chairman Confederation of Indian Industry (CII),eastern region:
We expected much more from the budget. But we understand it is difficult to announce any major scheme months before the elections. Though we welcome proposed emphasis on rural,education and agricultural sectors,we worry about the fiscal deficit. We hope that the final budget will consider investments in infrastructure projects and some fiscal measures will be taken in future.

* Ashish Jhunjhunwala,chairman,Ramsarup Industry:
The budget is nothing extraordinary. There is a huge fiscal deficit because of the subsidies and the substantial drop in revenue indicates that the economy is slowing down and might slow down more with time. We have to gear up for worse times.

* Mukul Somany,deputy chairman CII,Eastern region:
The budget gives due priority to agriculture,education and rural sectors. We,however,were expecting a stimulus package for the industry in the time of economic crisis. The government should spend on infrastructure and development projects. Employment-oriented sectors like gems and jewellery,leather and real estate should be given due importance.

* P R Agarwal,former president,Bharat Chamber of Commerce:
The Interim Budget is not very satisfactory from the industry perspective. During the recession,the Union government should have given tax relief or surcharge or interest relief to the industry. The budget rightly gave importance to the rural sector but it should have given some incentives to the industry.

* Sanjay Budhia,president,Indian Chamber of Commerce:
The export sector is of utmost importance and the government should have given some relief packages for exports,especially when it is facing a downturn.

We appeal to the government to provide a separate package for all the sectors. Issues like interest relief,cash incentive should also be considered.

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* Khokon Mookerji,general secretary,Bengal Chamber of Commerce:
The Interim Budget talks about what needs to be done in the future on a priority basis to fight recession. However,we are always concerned about issues like fiscal deficit and the stimulus packages. The coming years are the testing years for the industry.

Kolkata gets a bagful
With Pranab Mukherjee allocating Rs 11,842 crore for the Mass Rapid Transport System under the Jawaharlal Nehru National Urban Renewal Mission for six major cities,Kolkata is among the six cities to benefit from the scheme.

386 projects for the state amounting to Rs 39,000 crore were already sanctioned by December 31 last year.

Ashok Bhattacharya,the Minister for Municipal Affairs and Urban Development and Town and Country Planning,said,Lots of schemes that we requested have been sanctioned. Projects worth Rs 7000 crore were sanctioned for Kolkata,Asansol.

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He also said Rs 189 crore was sanctioned a few days ago for a slum development project in Asansol.

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Budget
Kolkata