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Interim Budget leaves India Inc disappointed

February 16, 2009 14:26 IST

India Inc on Monday gave a thumbs down to the Interim Budget 2009-10, proposed by Finance Minister Pranab Mukherjee, saying it is a non-event and more of a political statement.

"It was completely (a) non-event. It was (more a) political statement than (an) interim budget. There was nothing for any sector, forget about real estate," Parsvnath Developers [Get Quote] chairman Pradeep Jain said.

Expressing similar sentiments, Kotak Mahindra Bank [Get Quote] managing director Uday Kotak said, "Acting finance minister Pranab Mukherjee has stuck to what is good convention."

Tata Consultancy [Get Quote] Service's executive director and chief financial officer S Mahalingam said there were two stimulus packages given in the past couple of months and they were going to stay as they were. "I am disappointed," he added.

Stating that the government did not have much of a choice, Hinduja Group chief financial officer Prabal Banerjee said: "They did what they could best do."

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