Leading NRI industrialist Lord Swraj Paul has said that the Union Budget for 2012-13 has taken the reality of India's situation.
Business Today commissioned market research firm Ipsos for a survey, which quizzed 100 top executives across Delhi, Mumbai, Kolkata, Chennai, Hyderabad, Bangalore and Pune.
Finance Minister Pranab Mukherjee proposed to double the tax-free bond target for financing infrastructure projects in the next fiscal to Rs 60,000 crore from Rs 30,000 crore.
A quick look at how the changes made in indirect taxes affect you as a consumer.
Prominent highlights of the Budget for 2012-13 presented by Finance Minister Pranab Mukherjee in the Lok Sabha on Friday:
The new tax slabs may ease your tax burden by Rs 1,030-22,660 depending on the income and the tax slab. Unfortunately, taxpayers with higher incomes will be the main beneficiary.
Budget 2012 - Individuals get incentives to invest in stocks; mixed bag for industry.
The least we can do is make our tax laws investor-friendly and implement them with a sense of certainty, equity and fairness. The world does not need us: Quit India 2012 must not be allowed to happen.
Ahead of the Budget, Finance Minister Pranab Mukherjee is caught between two opposing yet powerful arguments from the power sector.
Budget 2012-13 proposes 1 per cent tax on sale proceeds of immovable property, higher duty on gold imports.
The Budget met with mixed response from industry. An analysis of the impact on six key sectors for Business Today by Ernst & Young.
Key observations of the finance minister in his Budget speech and thereafter.
Outlining some of the positive measures outlined in the Budget, Vinayak Chatterjee, chairman of Feedback Infra, said the finance minister has thrown open many gates for ECBs, for infra developers and financers. <br />
Commenting on the Budget 2012 proposals, Tata Steel vice-chairman B Muthuraman said that the finance minister has given some incentive to the industry "but I expected much more. We were not also expecting the excise duty hike." <br />
Commenting on the Budget 2012 proposals, Chandrajit Banerjee, director general of CII, said the "excise duty hike has dampened a little bit of the sentiment".
Commenting on the Budget 2012 proposals, Adi Godrej, chairman of Godrej Group, said "some of the provisions for infrastructure and agriculture were quite positive". <br />
P Balendran, GM India vice-president for corporate affairs, said that the duty hike on small and luxury cars will affect the growth of the auto sector. <br />
FICCI's Secretary General Rajiv Kumar said that the tax exemption proposals in Budget 2012 are unlikely to spur demand as they are marginal.<br />
Naina Lal Kidwai, country head of HSBC India, said it is a budget which recognizes that the fiscal deficit needs control and the attempt to achieve the fiscal deficit target is demonstrated in the Budget.
RV Kanoria, CMD, Kanoria Chemicals and Industries, sees Budget 2012 more or less a status quo budget. "It is grappling with the reality that there is need for fiscal consolidation," he says. <br />
Saurabh Srivastava, chairman of CA India, said though the finance minister had limited headroom but within that there were more opportunities.<br />





