Business Today

On Record

Print Edition: March 3, 2013

Business Today takes a look at what's making news in the Budget circle -

"I have drawn the red lines... the fiscal deficit for the current year will be no more than 5.3 per cent (of the GDP) and the fiscal deficit for the next year will be no more than 4.8 per cent"
P. Chidambaram, Finance Minister, to agencies

"The number of people filing returns showing income above Rs 10 lakh is far too small. We need to expand the tax net to catch more of the income"
Montek Singh Ahluwalia, Deputy Chairman, Planning Commission, in Business Standard

"Investors will look at the Budget and see whether we are walking the talk or not. If we are, the market is going to run up significantly "
Anup Bagchi, Managing Director and CEO, ICICI Securities, on CNBC-TV18

"It is important for the government to ensure savings, investment in entrepreneurship and the development of new projects"
Naina Lal Kidwai, President, FICCI, and Country Head, HSBC India, on CNBC-TV18

"From a macro perspective, the single most important thing is keeping the fiscal deficit in check. It has been a big concern for foreign investors"
Keki Mistry, Vice Chairman and CEO, Housing Development Finance Corporation (HDFC), on

"There is a growing demand for augmenting infrastructure facilities to sustain as well as accelerate the growth momentum... Fiscal policy will have to play an important role, especially at a time like this"
Chandrajit Banerjee, Director General, CII, to agencies

"This Union Budget is the last one before the elections. There is some expectation in market circles that it will be a bit populist with limited amount of expenditure cuts"
Indranil Pan, Chief Economist, Kotak Mahindra Bank, on CNBC-TV18

"My expectation is that we will do everything we can in the Budget to promote growth and to work towards fiscal consolidation"
Chanda Kochhar, Managing Director and CEO, ICICI Bank, on NDTV

"There is an urgent need to address the supply-side constraints that are still fuelling inflation. This can only be done by stepping up investments in infrastructure... The Budget will hold the key"
Hemant Kanoria, Managing Director, Srei Infrastructure Finance, in Financial Chronicle

"The budget should be growth oriented ... so that there is an increase in investments, and industries grow"
Som Mittal, President, NASSCOM, to agencies

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