Budget a positive signal to foreign investorsLord Swraj Paul
Founder-Chairman, Caparo Group
Lord Paul welcomed the Budget 2014 as "pragmatic and sensible" stating it would send a positive signal to foreign investors.
"I congratulate Finance Minister Arun Jaitley and Prime Minister Narendra Modi for clearly laying out the roadmap for economic recovery of the country,” he said.
"Jaitley deserves all praise for presenting a budget that clearly lay the foundation for implementing the promises made by the BJP during the election campaign. He has inherited a tough economic situation but it is clear that he is not daunted by it. The budget will restore faith in Indian economy and give confidence to foreign investors," Lord Paul added.
Positive Budget but directional and aspirationalKiran Mazumdar-Shaw,
Chairperson & MD, Biocon
Kiran Mazumdar-Shaw, Chairperson and MD of Biocon termed the Budget as positive but largely directional and aspirational.
"This Budget is positive but largely directional and aspirational. I was expecting bolder reforms for boosting investor sentiments,” she said.
"The pronouncements on the retrospective tax issue, easier FDI rules, jobs creation in manufacturing sector and improving predictability in India`s tax regime will improve the investment sentiment in the country. As will measures for addressing the funding needs of small entrepreneurs," she added.
Government willing to listen to peopleK V Kamnath,
Non Executive Director,
The non executive director of ICICI Bank had high appreciation for the Budget saying it was a sign the government was willing to listen to the people.
"The budget shows that the government is willing to listen and then state that they will act in due course," he said.
Infrastructure funding good for long term lendingDeepak Parekh,
With the government announcing a slew of of steps to fast-track projects mostly in public-private-partnerships and asserting that lack of infrastructure will not be allowed to hit growth, Deepak Parekh, Chairman, HDFC said it was a good move.
"Infrastructure funding had become a bad word for banks. Banks were not willing to fund. With this move, an out of the box thinking will enable long term lending for infrastructure sector," the banker said.
An encouraging BudgetSharad Jaipuria,
President, PHD Chamber
Sharad Jaipuria, President of PHD Chamber was of the opinion that the Budget was encouraging for the investors, consumers and general alike.
He said:, "The Budget is encouraging on building consumers`, investors` and general confidence and aims at enhancing growth, creating additional employment opportunities and containing inflation with the desired focus on garnering much needed investments, both public and private".
The Budget is pragmatic and extensiveChandrajit Banerjee,
Director General, CII
CII Director General Chandrajit Banerjee termed the budget as "pragmatic and extensive" and said that it "lays out a medium-term vision for the economy and meets industry expectations on growth and employment creation".
"We believe that the Budget would set the tone for quick recovery of GDP growth and generation of new jobs and hope that it will be followed up by close monitoring and implementation of announcements," he added.
Budget 2014 balances growth, deficit and inflationRana Kapoor,
The Assocham President, Rana Kapoor, welcoming the Budget 2014 was of the opinion that the government had done a great job by trying to pitch a balance by creating jobs and preserving level of deficit and inflation.
"The FY15 Union Budget makes a fervent pitch for attaining a balance by creating growth, preserving an ideal level of deficit, and destroying (supply side) inflation," Rana Kapoor said.
Stable tax regime good for investors and growthSidharth Birla,
Sidharth Birla, President of Ficci, welcomed the first Modi Budget stressing the point on a stable and predictable tax regime which would be investor friendly and spur growth.
"One of our key priorities was to see a clear course of action to end tax adventurism. The government has tried to address this by promising to not to change any of the tax provisions retrospectively which creates a fresh liability and committing to provide a stable and predictable taxation regime that will be investor friendly and spur growth," he said.
Focus on job creation a crucial stepAjay Shriram,
Welcoming the move, Ajay Sharma, President, CII, said Budget`s focus on job creation a positive and a crucial step for a country like India.
"I think the approach of creating a stable business environment to attract investment and boost economic growth, that direction comes across clearly," CII President Ajay Shriram said.
"I am very happy personally by his (Finance Minister Arun Jaitley`s) focus on job creation. I think that is something which is crucial for a country like India. Clearly," he added.