Guj CM, corporates hail Budget; Congress terms it anti-poor

Hailing the first full budget of the NDA government, Gujarat Chief Minister Anandiben Patel said it was "futuristic".
"I appreciate Finance Minister Arun Jaitley and Prime Minister Narendra Modi for the futuristic budget 2015, laying emphasis on 'Make in India', Skill India and Digital India," the Chief Minister said on twitter.
"New proposals will accelerate pace of development putting India on higher growth trajectory," added Patel.
She also thanked Jaitley for addressing restoration of Patan's cultural heritage site 'Rani ki Vav' and supporting Delhi Mumbai Industrial Corridor (DMIC) and Gujarat Industrial Finance-Tech (GIFT) projects.
Industry leaders also gave a thumbs up to the Budget.

Gujarat-based Adani Group's chairman Gautam Adani said GST will rejuvenate the industries. "This Budget has focused upon ease of doing business, 'Make in India', infrastructure, social sectors. Introduction of GST from April 1, 2016, will definitely rejuvenate the industry and make manufacturing more competitive," he said.

Adani has also praised the proposal to merge the Forward Markets Commission (FMC) with SEBI.
"Clarity on GAAR (General Anti- Avoidance Rule) and no retrospective applicability, comprehensive bankruptcy code, abolishing wealth tax act, merger of FMC with SEBI, rationalisation of corporate tax from 30 per cent to 25 per cent coupled with review of deductions supports 'Make in India' campaign," added Adani.

Another Gujarat-based industrialist, Alok Sanghi, the director in Sanghi Industries, said the Finance Minister has focused on infrastructure spending to put growth on fast-track.
"Measures like tax free infrastructure bonds and creation of infrastructure fund to attract capital are welcome moves. Major positive for India Inc is corporate tax rate cut over next four years and abolishing of special additional duty," Sanghi said in a statement.
Political advisor to Congress President Sonia Gandhi and Rajya Sabha MP Ahmed Patel, however, said the Budget reduced the funds for the 'Sarva Shikhsa Abhiyan', which was an anti-poor step.
"Congress-led UPA government had given the right to education, while the BJP-led NDA government is taking that right away, by reducing the funds for Sarva Siksha Abhiyan," said Patel, in a statement.

By introducing a huge hike in the service tax, the BJP-led government neglected the poor classes, Patel said adding that the budget also had no policy for the agriculture.