"In the larger scheme of things, I guess that is one way of reducing his deficit. Am I going to lose sleep over it? No," Ganesh Natarajan, CEO of IT outsourcer Zensar Technologies , said by phone from Pune, where the company is based.
Indian economic growth for the current fiscal year is on track to hit just 5 percent, nearly half its level in 2007/08.
"This country must not lose any time - India must get its act together to accelerate the tempo of growth," Prime Minister Manmohan Singh said in a TV interview after the budget speech.
The budget also reflects the realities of a country of 1.2 billion people, many of them poor. "On the one side is the economic policy, on the other side is economic welfare. We are a developing country. The link between policy and welfare can be expressed in a few words: Opportunities, education, skills, jobs and income," Chidambaram said.
COMMENTARY ON BUDGET PROPOSALS
ASIM WARSI, VICE PRESIDENT, SAMSUNG MOBILE, INDIA, NEW DELHI
"The 15 percent investment allowance on manufacturing investment should give a fillip to domestic manufacturing. However, in overall terms, we do not see the budget reviving the consumer sentiments in the absence of any specific incentives to boost consumer sentiment itself. Further, the increase in the excise duty on mobile phones will not have a positive impact on the mobile industry and should lead to an increase in prices for end consumers."
KAPIL WADHAWAN, CHAIRMAN AND MANAGING DIRECTOR, DEWAN HOUSING FINANCE CORP, MUMBAI
"It is a very balanced budget and is great for mid- to lower-income housing. The rural housing fund allocation of 60 billion rupees and an increase in tax exemption of 100,000 rupees on home loans of up to 2.5 million rupees is a welcome move.
"We continue to draw a lot of funding from the National Housing Bank (NHB) as refinance for our lending activities. The money we receive from NHB comes to us at a very low cost. So if NHB releases more money through the rural housing fund to players like us there is incentive for us to reduce absolute interest cost to the