Namit Bajoria, president of Merchants’ Chamber of Commerce and Industry, said, “Continued focus on capex is a productive spending — 11% increase to the tune of 3.4% GDP should jump start local buying. Better than expected fiscal deficit of 5.8% and even better fiscal deficit target of 5.1% will get positive rating and continued investment in India. Start-up exemption scheme extended to March 25 a boost to entrepreneur culture.”

The Indian Chamber of Commerce (ICC) said, “ICC welcomes the Interim budget announcements aimed at Viksit Bharat. Although there are no tax tweaking as expected, the Budget is a ‘Statement of strong Intent’,” it said in a statement.

Bandhan Bank MD and CEO Chandra Shekhar Ghosh said that the Union Budget focuses on inclusive development. “The interim budget is a step forward in the $5 trillion economy aspirations of the nation. The focus on the housing sector will benefit a range of peripheral sectors like cements, paints and steel, among others, and create job employment opportunities,” he said in a statement.

NG Khaitan, president, Bharat Chamber of Commerce, said in a statement, “…Budget has laid the foundations for a long-term action plan aimed at making a Developed India by 2047.”