P Chidambaram has unveiled a bigger-than-expected outlay for the coming fiscal year.
The key rate cut by RBI is too little to have any major positive impact on demand for automobiles but it is still a move in the right direction, according to the industry players.
Industry lobbies have begun pre-budget consultations with the Union finance ministry for 2010-11.
Commercial vehicles however declined by 2.83%
The captains of Indian industry described Narendra Modi government's maiden budget as one with "the right intent and in the right direction".
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