A fairly balanced budget, feels FKCCI

BANGALORE: President of the Federation of Karnataka Chambers of Commerce and Industries (FKCCI) J R Bangera has welcomed the Union Budget 2012.  Appreciating the emphasis given to rural d

Published: 17th March 2012 02:42 AM  |   Last Updated: 16th May 2012 06:36 PM   |  A+A-

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Industrialists and businessmen keenly watching the budget 2012-13 announcements during a live telecast session organised by FKCCI in Bangalore on Frid

BANGALORE: President of the Federation of Karnataka Chambers of Commerce and Industries (FKCCI) J R Bangera has welcomed the Union Budget 2012.  Appreciating the emphasis given to rural development, agriculture and irrigation, he stated that the Chamber also welcomes the Centre’s initiative in bringing Food Security Bill and Nutrition Augmentation Programme which provides nutrition to the downtrodden.

The chamber stated that the budget is ‘fairly balanced’. The FKCCI also welcomed the infusion of capital of Rs 18,000 crore to banks and also revival of RRBs. Capital market has been given a boost by reducing STT by 20 percent and FDI investment in civil aviation with 49% is appreciable, it said. However, the chamber expressed concern over the rollback of central excise and service tax tariff allowed as Stimulus Package during economic recession may add to inflationary measures.

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