India’s industry Thursday commended the first budget of the Narendra Modi government as pragmatic which would lead to a quick turnaround in growth. ” Through this budget the Finance Minister has set the ground for repair of the economy. There has been a mix of both short term and long term measures geared towards boosting confidence of all key constituents”, the Federation of Indian Chambers of Commerce and Industry (FICCI) president Sidharth Birla said in a statement here. FICCI strongly welcomed what it described as the government’s “change in disposition” in favour of ending “tax adventurism”.
India Inc Lauds Budget 2014-15
Rajrishi Singhal, Senior Geo-Economics Fellow, Gateway House, speaks about how the budget shows the government's lack of clarity in its foreign direct investment (FDI) policy and, as such, is unlikely to inspire investor interest in the overseas markets