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Our Bureau

Mumbai , Feb 3

THE Interim Budget proposal illustrates the Government's conviction and confidence in catapulting Indian economy to a higher trajectory, but what is necessary now is to provide continuity to the intent of the Budget, according to Mr Shashi Ruia, Chairman of the Essar Group.

Reacting to the Budget, he said the tonnage tax proposed in the Budget would help the shipping sector, while the reduction in the stamp duty would encourage merger and acquisition activities.

"Given the circumstances under which the Interim Budget has been placed, the hands of the Finance Minister were tied. He deserves a special praise for maintaining his dignity by keeping himself well within his famous understatements, instead of indulging in political bravado so tempting before the elections," he pointed out.

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