Budget flat and disappointing, say Pune experts

Experts from the city have given mixed reactions on the Budget. Many have expressed that the Budget was flat and disappointing.

Anant Sardeshmukh, executive director general of Mahratta  Chamber of Commerce Industries and Agriculture (MCCIA), says, “Public Private Partnership (PPP) is encouraged. With double infrastructure tax bond limit, bond market will be positive as more foreign funds will flow in increasing mid to long term foreign investment.”

Pramod Chaudhari, executive chairman, Praj Industries feels, “There are marginal changes which will not make any significant impact on the growth drivers. There are no concrete timelines towards GST and DTC or any measures for reducing fiscal deficit. Support for agri sector, skill development and extension of R&D benefits are welcome.”

Vikram Salunkhe, vice-president, MCCIA says, “The only good things are funding of national skills development programme, national food processing mission and PPP viability funding for irrigation.”

Chandrashekhar Chitale, chairman, Direct Taxation Committee, MCCIA, said, “Direct Tax Code Bill implementation has been put off till April 1, 2013. Reduction of income tax from 10% to 5% would have been better. There is no mention on changes in TDS provisions and TDS refunds.”

PC Nambiar, chairman, Foreign Trade Regulation Committee, MCCIA, says, “Rationalisation of excise and service tax procedure is welcome, but there is nothing about special additional duty.”