Tamil Nadu leaders term budget disappointing

Tamil Nadu's major political leaders Saturday expressed their disappointment at most proposals made by union finance minister Arun Jaitley in his 2015-16 budget while welcoming a few.

"In so far as our hopes and expectations have not been fully met, we have to say that the budget has fallen short of expectations," ruling AIADMK's general secretary J.Jayalalithaa said in a statement.

"While the corporate tax rate is proposed to be reduced over four years to 25 per cent, there is no indication of any increase in the threshold for personal income tax, which is disappointing," she said.

DMK president M.Karunanidhi hoped Jaitley would review the non-hiking of the threshold limit for individual income tax and make an appropriate announcement.

Karuanidhi, Jayalaltihaa and PMK founder S.Ramadoss welcomed the central government's proposal to set up an All India Institute for Medical Sciences (AIIMS) in Tamil Nadu.

Jayalalithaa however said that it was "disappointing" that no cultural heritage site from Tamil Nadu has been selected for assistance under World Heritage Sites.

"Infrastructure is a crucial sector and I welcome the announcement of the National Investment and Infrastructure Fund. The government of India should also support similar ventures by State Governments like the Tamil Nadu Infrastructure Fund Management Company," she added.

Expressing concern at the increase in service tax rate to 14 percent, Ramadoss said the budget on the whole is a mix of sweet and sour flavour.