Budget 2019: India Inc grim over customs, direct tax surcharge uptick

Industry captains, experts at CII, FICCI praise some measures; say government could have done much more

Monsoon finally hit Delhi on Friday, in sync with the budget for 2019-20 presented by the first full-time women Finance Minister (FM) Nirmala Sitharaman. While the rains brought people of Delhi relief from sweltering heat and humidity, the budget for this fiscal did not have the same effect on India Inc. Representatives from the industry, present at budget viewing session organised by both Federation of Indian Chambers of Commerce & Industry (FICCI) and Confederation of Indian Industry (CII), appeared to be in a sombre mood after the budget was presented.

The hike in customs duties on commodities and some electronic