This is a pathbreaking budget. Many of the measures and norms introduced by the finance minister are very good. They will impact positively on industrial growth. Measures such as doing away with the tax on dividends should help depressed capital markets revive. And there is every reason to believe that this will bring back the investor to the equity markets.
Measures such as the reduction of duty on capital for refinery projects are very positive, not just for concerns such as our Mangalore Refineries Public Limited but for other refineries as well. On a broader level, the process of simplification of excise is a step in the right direction and makes tremendous sense.On the whole, the budget is well thought through and sends very positive signals. In fact, P Chidambaram's sops to the industry go well beyond expectation.
