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The Union Budget 2008-09 is balanced and on the expected lines. With primary focus on agriculture, health, education and rural development, the progressive proposals outlined by the Government in the Budget are on the right track.

There are certain initiatives outlined in the Budget which are positive for our business. The Government’s goal to achieve a double digit growth in the manufacturing sector with certain reforms is certainly welcomed. Also, the proposals to launch world-class skill development programme will support the manufacturing industry. Our energy business will benefit from the acceleration of the ultra mega power projects and the setting up of the National Fund for the power rransmission and distribution reforms. The increased investments of 15 per cent in the health sector coupled with 5-year tax holiday to encourage setting up of hospitals in Tier 2 & 3 cities will boost our healthcare business.

However, it does not give enough emphasis on the infrastructure and urban development, which is crucial to sustain the economic growth targets of the country.

Armin Bruck, Managing Director,

Siemens Ltd.

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