C S Verma, chairman, SAIL: "Infrastructure sector has been given due thrust in the budget. Doubling the infrastructure tax-free bond amount to Rs. 60,000 crore, 8800-km highway coverage target, focus on low-cost housing and reaffirming investment of Rs. 50 lakh crore in infrastructure sector in 12th plan are steps that present a scenario conducive for growth of steel industry.
Besides increase in customs duty for flat carbon steel and reduction in import duty for equipment required in mining & minerals sector are all measures which are positive for steel industry.
Overall it is a pragmatic and growth-oriented budget with concrete steps for containing fiscal deficit at a realistic target of 5.1 % for 2012-13, streamlining of direct and indirect tax regime, creating investment-friendly environment and reviving growth in manufacturing. With the measures announced, it is quite conceivable that GDP growth in 2012-13 could be upward of 7.5 %."
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