Why are you guys so worried about cash withdrawals. I am becoming increasingly interested in that.
— P Chidambaram, Finance Minister


We have documentary evidence that huge cash transactions take place and they leave no trail at all. I will come down heavily (on tax evaders)...We have taken a small step.
— P Chidambaram, Finance Minister


There are many positives in the Budget. However, the govt may have lost the opportunity in addressing consumer needs as prices are set to increase because of the move to Euro III.
— Jagdish Khattar, Managing Director, Maruti Udyog Ltd


Its an agro-friendly budget. The Finance Minister has dealt with the agri and rural sector comprehensively.
— Ranjana Kumar, Chairperson, NARARD

We want the inverted customs duty to be corrected. What we require most is significant attention to infrastructure development. Infrastructure development is the biggest issue for the indudstry.
— Onkar Singh Kanwar, President, FICCI

I expect the Budget to deal favourably with issues of freight on coal, excise and customs duties on naphtha, besides rationalisation of customs duties on import of spares and modernisation. Extend section 81I (A) benefits to new generating plants.
— RCP Jain , Chairman & MD, NTPC

Three key issues need to be addressed. First, the duties on manmade fibres and yarn need to be rationalised. Second, the list of equipment importable at 5% duty needs to be expanded. And third, but not least, the knitting sector needs to be dereserved.
— SP Oswal, Chairman, Vardhman Group

Tackle three crucial infrastructure imperatives of policy, construction and financing. NBFCs must be allowed access to external commercial borrowings for raising long-term resources. Ground-level problems must be identified and removed.
— Hemant Kanoria, V-C & MD, SREI Infrastructure Finance

India is now looked upon as a resurgent economy closely following China. While the customs duty on steel products has been reduced to 5%, there are some input items like ferro-alloys, zinc and nickel on which the customs duty remains high at 15%. The rationalisation of duty level on such items needs to be looked into.
— VS Jain, Chairman, SAIL

The biggest hurdle the sector faces is cascading indirect taxes. Currently, indirect taxes constitute a third of the price consumer pays. The state Vat and Cenvat need to be integrated fast. A time-bound plan to move must be announced.
— Bharat Patel, Chairman, P&G

I hope the Budget does away with the 8% special excise duty onmulti-utility vehicles and motor cars or at least reduce it by 4% this year.
— Jagdish Khattar, Managing director, Maruti Udyog Ltd

With the emphasis on agriculture lending, the I-T benefit of 7.5% of total income and 10% of the average aggregate rural advance may be raised to 15% and 20%, respectively. Infrastructure investment should receive a major thrust in Budget.
— K Cherian Varghese, Chairman & MD, Union Bank of India

I would like to see introduction of specific duties for refinery products. Customs duty on crude oil should be halved to 5% from 10% now, while that on products be fixed at 15%. Excise duty on LPG and kerosene should be reduced.
— MS Ramachandran, Chairman & MD Indian Oil Corporation

The Budget must hasten decontrol of the industry. The differential in import duty for raw and white sugar should be at least 25-30%. Debt recast package as recommended by the Tuteja committee should be implemented.
— Ram V Tyagarajan, CMD, Thiru Arooran Sugars Ltd

Today, almost 60% of the ex-factory gate price comprises taxes. There is growing shortage of fuel (coal) and customs duty on petroleum coke is high at 20%. There is a need to reduce taxes and duties to be competitive. The Budget must also take measures for demand generation.
— AK JAIN, ED Marketing, ACC