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Home  » Business » Budget: India Inc does not challenge FM

Budget: India Inc does not challenge FM

Source: PTI
March 01, 2007 17:48 IST
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Corporate India, which was quick to dub Budget 2007-08 as 'bad' in instant TV polls, on Thursday described the financial bill as bold and brilliant in a snap poll called by none other than Finance Minister P Chidambaram.

Drawing inspiration from TV channels, Chidambaram said he too was tempted to hold a poll to gauge the industry's reaction. Only this time, the industry captains would not openly disagree with the Finance Minister.

Not a single person came forward when Chidambaram asked industry leaders at a gathering here to raise their hands if they were opposed to creating one lakh jobs for the physically challenged, giving one lakh scholarships on mean-cum-merit basis for children or allocating more money to fight HIV AIDS.

"Is any one opposed to allocating money for eliminating polio by December 2007? Is any one opposed to recruiting two lakh teachers next year? Is any one opposed to opening of 5 lakh class rooms next year?" he asked like an anchor would in a TV show.

Industry leaders were, however, forthcoming with compliments as they praised the Budget with words like "bold" and "brilliant report card".

"I have learnt one lesson that instead of tuning in the TV set on the Budget day, I should wait for my meeting with chambers next day," quipped the lawyer-turned-politician amid thunderous applause from the gathering.

The industry felt that the Budget was a great let down as it did not provide any relief in corporate income tax, but instead piled an additional one per cent educational cess on all taxes.

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