This article was last updated on April 16, 2022
Finance Minister P Chidambaram presented the budget for 2013-2014 elections on Thursday. Chidambaram’s eighth budget is believed to revive growth amid an economic slowdown. However, businessmen took the opportunity to voice their discontent with the government and criticize the overall system.
“The reality is simply that the CEOs in India have a lot of hassles with the government. That is not because of ministers, that is not because of any specific bureaucrat but the whole system itself is attuned to apathy, inaction, postponement and the ‘chalta hai’ attitude. The need of the day is to make sure that we act as if there is no tomorrow,” Infosys co-founder NR Narayana Murthy said.
Nevertheless, Murthy hailed Chidambaram’s Azim Premji surcharge on the super rich and women banks. He acknowledged the visible signs of development claiming it to be an important step forward.
“The problem with this country is apathy, inaction, bureaucracy, red-tapism. I meet so many CEOs outside India and not one has said that he is very keen to do business in India because they say your country is impossible,” Murthy added.
On the other hand, the India Incorporate embraced the new budget with open hearts.
“I think it’s a good budget. We need to do whatever is needed to do according to the growth. It is pro-investments, more directional. The Finance Minister has not put any surprises, that’s good,” said Shivinder Mohan Singh, CEO and Managing Director of Fortis Healthcare Ltd.
According to Naina Lal Kidwai, Group General Manager and Country Head of HSBC India, growth is essential.
“We need to bring the agenda to the centre. The taxes have come by way of surcharge,” said Kidwai.