Mumbai: Sumit Banerjee, managing director, ACC Limited, says direct and indirect interventions in the agricultural sector are promising though, on the core manufacturing sector, there does not seem to be any significant direct thrust in the budgetary provisions or taxation proposals, although the need to excite this sector has been recognised.
A product of mass consumption like cement, which is already among the most highly taxed, has received some more indirect tax loading by way of hike in CENVAT rates for clinker and bulk cement."
On the whole, Banerjee views the budget as one which will help promote demand in general, and is therefore, progressive.
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