Leading NRI industrialist Lord Swraj Paul has said that the Union Budget for 2012-13 has taken the reality of India's situation.
Reacting to the Budget, Caparo Group Chairman Swraj Paul said: "The budget has taken the reality of India's situation.
There are too many problems that exist which need to be dealt with to make the economy better.
FULL COVERAGE: Union Budget 2012-13
"I hope the government gets the grip on the problem and start paying attention to it. India has a great future if we can get our house in order."
He described the Budget as "a very good budget".
"It is a very good budget. Congratulations to the Finance Minister."
Finance Minister Pranab Mukherjee in the Budget presented yesterday hiked excise duty and service tax by 2 per cent across-the-board to raise Rs 45,940 crore and offered marginal relief to individuals in income tax.