GCCI President Mahendra Patel reacts on Union budget(Video)

Ahmedabad, 17 March 2012

Reacting on Union budget 2012 presented by Finance minister Pranab Mukherjee yesterday, the President of Gujarat Chamber of Commerce and Industries(GCCI) Shri Mahendrabhai Patel said that there was nothing that he could like in the budget.

“There’s no single thing that we liked in this budget. We were expecting something that could boost the industry, but they have considered industry as an entity from which they can only receive,” Shri Patel said.

“As per the budget, it seems the central govt would give something with one hand and take it back with both hands from a common man,” Shri Patel added.

Shri Patel further said, “The budget presented today seems a balanced budget, but one thing is clear that it will bring price hike.”

“Industry will have to bear overall cost escalation due to hike in excise and service tax,” he said.