Chamber welcomes Budget

A Srinivas Rao, president of the Kanara Chamber of Commerce and Industry has welcomed the Budget saying "overall it is a good Budget as it has covered all areas like health, education, rural development and infrastructure".

He added: "As the threshold of one lakh is maintained for income tax there is no ambiguity". He also welcomed the allowance made for women tax payers upto Rs 1.25 lakh. He was however concerned that senior citizens did not get a better deal.

He also felt the construction industry will be hit due to the imposition of 10 per cent service tax as it is already included in the VAT regime.