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Money & Banking
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Budget
`On expected lines'
Chennai, Feb. 29
The budget was on expected lines supporting longterm
growth through increased spending on
agriculture and education and offering tax breaks to the
middle class, said Mr.
Neeraj Swaroop, Regional
Chief Executive - India &
South Asia, Standard
Chartered Bank
He added that it was
important that any
spending reached the
intended beneficiaries.
"The decision to waive
loans to small and marginal
farmers is welcome.
Financial inclusion is
another critical area touched
by the budget. From the banking sector's point of view,
market development steps such as introducing exchange
traded convertible bonds, will aid liquidity and price
discovery. But there could have been higher spending on
the critical infrastructure sector and measures to tackle
inflationary pressures, which are intensifying", he said. -
Our Bureau
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