Chambers of commerce and industries have welcomed the budget saying that it is inclusive and one which strikes a balance between growth propulsion and fiscal consolidation at a time when the economic rebound is plagued by rising food inflation.
Bharat Chamber of Commerce said that the calibrated exit from the stimulus package instead of an abrupt abortion is good. The budget is also bold and pragmatic. The Indian Chamber of Commerce saw it as a responsible budget which set a clear direction for the direct tax code and generalised service tax.
Bengal National Chamber of Commerce, however, regretted the marginal incentive given to medium size enterprises. It also rued that no concrete steps were noticed to control inflation.
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Sanjiv Goenka president of the All India Management Association said that the finance minister has provided income tax relief so that there is more money in the hands of the ‘aam aadmi' to aid spending, and has lowered the surcharge payable by companies.
The Bengal Chamber felt that the budget was on expected lines, reflecting the Government's commitment of satisfying the aspirations of the aam aadmi.