Lesser push on manufacturing

CHENNAI: There was mixed reactions to the budget from the industry with a section stating that it is positive, realistic and focused while some felt that it did not rise to the expectations of trade or industry.The Confederation of Indian Industry (CII) said that the budget was a positive one focused on growth. Addressing media persons at a ‘Budget Viewing Session’ organised by CII, T T Ashok, Chairman, CII Southern Region said that the budget was well on the expected lines: positive, realistic and focused on domestic demand driven growth.Ashok said more can be expected from the direct tax code and GST and from the whole pile of schemes for the capital market. About the hike in excise duty, he said, “we would have been happy with the existing rates.” Venu Srinivasan, Chairman and Managing Director, TVS Motor Company Ltd, said the budget overall was very pragmatic, positive and would ensure 7 per cent growth. “We wish there has been greater push for the manufacturing sector,” he said.Preetha Reddy, managing director of Apollo Hospitals Enterprises said the `5,000 tax exemption for preventive health check-up and the focus on good drinking water were very positive steps with long-term health benefits.The focus on skill development would benefit the healthcare industry as it was a major employer of skilled people, she said.However, she felt there was nothing concrete on boosting medical tourism.K Raghavendra Rao, Chairman and Managing Director, Orchid Chemicals and Pharmaceuticals, said the incentive for research and development should have been extended to all areas of research and development.He welcomed the focus on biotechnology in clinical research.N K Ranganth, managing director, Grundfos Pumps India welcomed the focus on agriculture and infrastructure and felt enough was not done for the manufacturing sector. S Chandramohan, chief financial officer, Tractors and Farm Equipment said the proposed State-run irrigation companies would be helpful.Chandramohan said crop loan facility could have been extended to agriculture capital goods also.Narayan Sethuramon, managing director, WS Industries (India) welcomed the thrust of the Budget on the power sector. But he said there was no mention of import and export of power equipment.