Reactions

Updated : Feb 18, 2014

Tax experts hail cut in excise duty in Interim Budget 2014-15

Chidambaram reduced the excise duty on capital goods from 12 to 10 per cent and on mobile handsets to 6 per cent and in the case of automobile having different duty rate the reduction is by 2-6 per cent.

Chidambaram in his interim budget estimated subsidies at Rs 246,000 crore, up from his last estimate of Rs 231,000 crore.

Updated : Feb 18, 2014

Vote on account a disappointment, says former ONGC Chairman R.S. Sharma

In his vote on account, Finance Minister P. Chidambaram laid emphasis on curtailing subsidies. He estimated subsidies at Rs 246,000 crore, up from his last estimate of Rs 231,000 crore.

Updated : Feb 18, 2014

Interim Budget 2014: SBI says Rs 11,200 crore infusion may be too low

State Bank of India (SBI) said the Rs 11,200-crore budgetary allocation for state-run banks' recapitalisation for FY15 may not be sufficient given the systemic credit growth and migration to the capital-intensive Basel-III framework.

Updated : Feb 17, 2014

Who said what on Interim Budget 2014-15

Industry leaders and experts reacted to the excise duty cut and fiscal deficit estimates among other announcements made by the finance minister.

Biocon chairman and managing director Kiran Mazumdar-Shaw. PHOTO: Reuters

Updated : Feb 17, 2014

Lots of tokenism in Interim Budget, says Kiran Mazumdar-Shaw

Biocon chairman and managing director Kiran Mazumdar-Shaw says industry was not expecting much from the budget in the first place.  However, even the relief measures announced for the manufacturing sector, automobiles, blood banks and others, are token measures, feels Mazumdar-Shaw.

Updated : Feb 17, 2014

Interim Budget 2014: Excise duty cut may not boost manufacturing, say experts

Sidharth Birla, Chairman of industry body FICCI, pointed out that the validity of these provisions and duty cuts is only till June since this was only a vote-on-account and not a regular budget.

Updated : Feb 17, 2014

Interim Budget: Fiscal deficit estimates may be changed after poll, says Angel Broking MD

In the interim budget, the Finance Minister has estimated the fiscal deficit target for FY2015 at 4.1 per cent of GDP presuming higher GDP growth and tax buoyancy, but it remains to be seen whether the estimates stay unchanged after the new government comes to power after two to three months.