Lack of labour reforms disappointing: Anil Nanda

How do you react to the Budget?

Overall, it's a good Budget with emphasis on rural, agricultural and infrastructure sectors. All this will propel the economy in the long run as 70 per cent population is in the rural areas.

But the auto component industry has got no special treatment.

The FM could have made some annoucement for the auto component industry on the lines of SSI sector because global auto and auto component companies are looking at India for outsourcing.

As far as duties reduction on capital goods in the range of 5-10 per cent are concerned, one will have to wait and see how the auto component industry benefits.

What of reduction on corporate tax?

The reduction on depreciation by 5 per cent has offset this gain because depreciation results in cash generation which companies plough back.

Were you expecting more annoucements?

I was looking at some announcement on labour reforms, which was long pending. That was disappointing.