Chidambaram's not so populist stand makes Bengal Inc happy

Bengal corporate leaders today termed the 2013-14 Union budget a reformist one and said despite being the last budget of UPA before it goes to poll, Finance Minister P Chidambaram restrained from being populist.
Indian Chamber of Commerce presient Rajiv Mundhra said, this despite being the last budget of the UPA before elections, he (FM) refrained from populist measures as loan waivers.
"I welcome the budget and it is better than expected. On taxation we had expected increase in excise and service tax but it was not touched which is a welcome step," he said.
ITC chairman Y C Deveshwar without reacting to excise hike on cigaratee in the budget, observed that the committment exuded by the Finance Minister in managing difficult economic circumtances will definetly go a long way in bolstering confidence in the economy.

"The proposal represent an all around intervention for stimulating growth in all sectors while fostering social equity and inclusion," he said.
Tractors India executive vice-chairman Sumit Mazumdar said continued focus on infrastructure will help the economy in registering desired growth.
Srei Infrastructure Finance Limited chairman and managing director Hemant Kanoria said, "it is heartening to note that infrastructure development has figured prominently in his speech. The initiatives to provide support to Infrastructure Debt Funds (IDFs) are commendable, especially as the banks are constrained and unable to increase their exposure to infrastructure projects.