India Inc wasn’t expecting anything from interim budget

February 16th, 2009 - 4:57 pm ICT by IANS  

New Delhi, Feb 16 (IANS) Following are the reactions from some prominent industrialists and economists to the interim budget presented by acting finance minister Pranab Mukherjee here Monday:

Deepak Parekh, chairman, HDFC Bank: Not a disappointment, I did not expect anything in the interim budget. It was never meant to be a giveaway. Interim budget is only an exercise of stating accounts.

Pradeep Jain, chairman of Parasvnath Developers: It’s a non-event for the corporate world. The interim budget is merely a populist budget.

Sajjan Jindal, vice-chairman and managing director of JSW Steel: I was not expecting much from this. For the next two-three months, we are going to have a policy freeze but monetary policies will address some factors like interest rates.

Dalip Kumar, manager (projects) at National Council for Applied Economic Research: How are they going to maintain the economic growth…these are political statements.

D.K. Joshi, principal economist credit rating agency Crisil: The interim budget shows huge pressure on expenditures. Fiscal correction will have to wait.

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