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Mr P. Jayarama Bhat, Managing Director, Karnataka Bank Ltd, has termed the Budget for 2011-12 as neutral to positive with a definite growth orientation in terms of overall objectives. Fiscal deficit target of 4.6 per cent, which is projected, is achievable, considering the past performance of the current finance team, even though the numbers are too optimistic. With this, the interest scenario for the coming financial year may be moderate, he said.
Good and progressive
Mr Ramnath Pradeep, Chairman and Managing Director of Corporation Bank, said that the Budget is good and progressive. Stating that the Budget has taken care of all sectors, he said duties have been reduced in certain sectors and certain new initiatives have been initiated in some other sectors. Stating that the housing sector will get a boost, he said the priority sector advances of the banks will increase on the housing side. He stated that a lot of rationalisation will take place when GST comes into effect.
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