Budget evokes mixed reactions from Indian Industry

Budget evokes mixed reactions from Indian Industry

Agency News

New Delhi, Feb 1 : The Budget 2020-21 presented by Finance Minister Nirmala Sitharaman on Saturday evoked a mixed reaction from Indian industry.

Confederation of Indian Industry former president Naushad Forbes said didn't hear an explicit recognition that "we are in a crisis, that we are at the lowest growth." UnionBudget2020 recognises that they need to give money in the hands of the people," said CII Director General Chandrajit Banerjee. "Growth has a magical quality…many things done to encourage investment, especially from overseas…” said Hero Enterprises Chairman Chairman Sunil Kant Munjal.

While Deloitte Haskins & Sells Neeru Ahuja termed it a 'bold budget'. "My biggest worry is that the main income generation appears to be on disinvestment and privatisation where the figure has doubled this year. And we know what the track record was last year," said former FICCI President Naina Lal Kidwai .

"Happy with #UnionBudget2020," said Amit Rana, Partner, Tax and Regulatory, PwC India “They are carrying forward what they said on infrastructure…there are some attempts. There is a focus, but it could have been bigger," opined Chief Executive Officer and Managing Director of Tata Steel TV Narendran. "The future of India Inc at least should be very happy": Vishesh Chandiok, CEO, Grant Thornton India. "Ultimately you have to put more money in the hands of the farmers…have to get private sector in, in a big way," said Rakesh Bharti Mittal, Vice-Chairman and Managing Director of Bharti Enterprises. (UNI)