City industrialists' mixed reaction to union budget

Leading industrialists in the city have expressed mixed reaction to the proposals in the union budget presented by Finance Minister Arun Jaitley today.
Hemant Kanoria, managing director of Srei Infrastructure Finance said that the budget tried to cover all people as the government has announced a series of measures for the health sector as well as some steps for the poor.
He said investments has been announced in the road sector and also capital expenditure in the railways.
From the corporate sector perspective the budget was not exciting, he said.
The introduction of long term capital gains tax was disappointing and no PPP projects in the infrastructure sector were not announced.

For the salaried class, the budget was a big disappointment as people were expecting some changes in the income tax rates, but a only a standard deduction of Rs 40,000 was proposed for transport and medical reimbursement.
Chairman of Ambuja Neotia group, H Neotia said it was good budget and focussed on the rural sector, health and the MSMEs which was most needed.