Reacting to Finance Minister P Chidambaram's Budget proposals on Monday, Raman Madhok, Joint Managing Director & CEO, Jindal Iron, said:

"I think the finance minister has done a fairly good job on boosting the infrastructure sector. The other sectors which will benefit are agriculture, food processing and textiles.

"I think this is a growth-oriented Budget, which will help boost rural economy.

"I think the savings and investment potential of people may go up.

"As for the 0.1 per cent tax on cash withdrawal of Rs 10,000 or more per day from banks, well, I think it's a stupid thing to do.

"The idea probably is to increase payments by cheques. I think that this 0.1% tax on withdrawal of Rs 10,000 could be rolled back by the government under pressure."