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'Budget is inflationary'

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The for the year 2012-13 was and would affect the consumers in the long-run, said a panel here.

Addressing a gathering on the ‘Post Budget Analysis -2012’, chairman said, “Mahindra has already announced increase in prices between Rs 3,000 and Rs 35,000 for its products, and the two-wheeler manufacturers are likely to increase the prices in a few months. The Budget impact will be seen across products, from garments to eating at restaurants.”

Safir Adeni, chief executive officer, said, “Start-ups, angel investors and internet entrepreneurs are not mentioned in the Budget. The ecosystem is being ignored. Broadband penetration is also another important aspect not mentioned in the Budget.”

Good for farm sector
CV Sarma, vice-president (finance), ITC-Agri Business Division, said, “Of the many proposals, the mobile- based (mFMS), which has been introduced this year, can be a game changer for the agricultural industry.”

The mobile- based Fertiliser Management System, designed to provide end-to-end information on the movement of fertilisers and subsidies, from the manufacturer to the retail level, will be rolled out nationally in 2012 and expected to benefit 120 million farmer families by reducing expenditure on subsidies. The event was organised by Fapcci and Ficci.

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Oil cos hike jet fuel prices by 3%

State-owned oil companies today hiked jet fuel price by about 3%, the third time they have increased rates this month.

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