Chambers' Reaction: Assocham: Aam aadmi Budget

Assocham: Aam aadmi Budget
The Associated Chambers of Commerce and Industry of India (Assocham) applauded the government on its agararian focus even as it termed the Budget proposals as aam adami ones. Sajjan Jindal, president, Assocham, said, “The abolition of FBT and CTT is especially welcome.” However, concerns were raised regarding the finance minister’s treatment to the minimum alternate tax, saying it was against the expectations of the industry as it has been increased. The Assocham had recommended a 7.5 per cent ceiling for MAT.

Jindal further said the Finance Minister gave sufficient indications for disinvestment to contain the fiscal deficit and generate resources for infrastructure development. The industry has been widely anticipating a road map for disinvestment, which has not happened.