145;It endorses the feel-good factor146;

The mini-Budget announced by the government on Thursday has enough reasons for all sectors to smile. There is something for everybody this t...

The mini-Budget announced by the government on Thursday has enough reasons for all sectors to smile. There is something for everybody this time.

Confederation of Indian Industries president Anand Mahindra said that the new measures will further enhance the competitiveness of the Indian economy as well as propel India into a higher growth orbit. In a statement, he said: 8216;It also belies expectations that reforms would be put in the backburner.8217;8217;

Ficci president Y.K. Modi said that reduction in excise duty on aviation turbine fuel and abolition of 15 per cent Inland Travel Tax would give boost to air travel. The reduction in excise duty and customs duty on computers, coal and cellphones will add to the feel good factor prevailing in the country. The reduction would also help making the Indian economy globally competitive.

The Assocham has welcomed the bold steps taken by the government in the area of direct taxes. Spokesman particularly welcomed the trade facilitation measures including customs clearances based on self-assessment and selective examination.

Welcoming the government8217;s decision to cut duties on telecom equipment import and cellphones Sunil Bharti Mittal, chairman of Bharti Group said : 8216;8216;It is evident that the government wants to attain the 100 million subscriber base for the country quickly and removing roadblocks in the achievement of this target is a welcome step. Handsets will be cheaper immediately and duty reduction of equipment will give some relief to bleeding telecom companies and a scope for future reduction in the already low tariffs.8217;8217;

Ranbaxy chairman Tejendra Khanna said, 8216;8216;A very progressive package, that will accelerate economic activity. The new system will both stimulate demand and provide incentive for investment in the capital goods and production sectors. The exemption for infrastructure projects is commendable. I am happy to see that the general rate of customs duty has been brought down in alignment with Asean levels.8217;8217;

Godrej Group chairman Adi Godrej said, 8216;8216;I am in full agreement with the steps that have been taken. Indian economy and especially those sectors that depend on raw material imports will greatly benefit from this.8217;8217;

Story continues below this ad

Videocon Group chairman V.N. Dhoot said: 8216;8216;In a virtual mini-Budget ahead of a possible vote-on-account, and early Lok Sabha elections, the government8217;s move will reduce inflation.8217;8217;

N. K. Goel, president Telecom Equipment Manufacturers8217; Association said, 8216;8216;This is an injustice to indigenous manufacturers because the reduction in excise duty on computers should have been made applicable to telecom equipment too, as both are treated at par in WTO.