Budget on expected lines, say industrialists

Budget on expected lines, say industrialists
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First Published: Fri, Feb 29 2008. 02 16 PM IST
Updated: Fri, Feb 29 2008. 02 16 PM IST
PTI
New Delhi: The Indian industry and investment bankers today gave a thumbs up to the Union Budget, saying Finance Minister P Chidambaram has done a “fantastic” job.
“Budget is on the expected lines and the industry has not been penalised although we are disappointed that the corporate tax has not been changed,” apex industry body CII’s president Sunil Mittal said.
“Corporate tax are at fair levels. An increase of 5% on short-term capital gains will make people hold for medium term,” Kotak Mahidra Bank managing director Uday Kotak said.
Industrialist Sajjan Jindal, vice-chairman and MD of JSW Steel said: “This is a mixed budget and the FM has not touched upon the corporate tax, which we were anticipating. The focus is on agriculture and education sector.”
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First Published: Fri, Feb 29 2008. 02 16 PM IST