Daijiworld Media Network – Mangalore (KM/SMK)
Pics: Prajwal Ukkuda

Mangalore, Mar 1: Union Budget 2008 is, on the whole, 'satisfactory' said Kumble Narasimha Prabhu, president of Kanara Chamber of Commerce and Industry (KCCI), while speaking to Daijiworld correspondent at the KCCI hall on Friday February 29.

The reduction in excise duty on various commodities such as life-saving drugs and other measures like complete wavering of loans for marginal farmers are really welcoming steps, he appreciated.

Another worth considering factor of the budget is the scheme planned to bring workers of unorganized sector under insurance scheme indeed deserves appreciation. Establishment of three IITs is really a welcome step as it plays instrumental role in strengthening the future human resource, he opined.

Increase in the market price of cement is little 'more,' he said. He further added that the government must have had second thought while considering the upward revision of prices of cement as it may mar the spurt of the construction activities.

Relaxation in income tax limit for women is one more welcoming step. It has been announced in the budget that for women, income tax limits goes up from Rs 1.45 lac to Rs 1.80 lac. In case of senior women, it increases from Rs 1.95 lac to Rs 2.25 lac. This is good and encouraging step towards the welfare of women, he added.

When this correspondent sought his response to the railway budget presented by union railway minister Lalu Prasad Yadav, Prabhu replied, for Dakshina Kannada the budget is disappointing. He also opined that election was the prime consideration while tabling the budget in the parliament.

Other office-bearers' of KCCI were present on the occasion.