The Union Finance Minister Shri P. Chidambaram was congratulated for presenting a budget with increased outlays for social and agriculture sectors without imposing any additional burden.
In a letter addressed to the Minister, Shri Ravi Kant President of Society of Indian Automobiles Manufacturers (SIAM) commended that increased spending on social sector, infrastructure and agricultural sector including a loan waiver programme have been achieved without imposing any additional taxes on the corporate sector and the manufactured product is truly remarkable.
Writing on behalf of automotive industry, the SIAM conveyed their appreciation to Shri P. Chidambaram and the officials of the Finance Ministry for unveiling a special package for the industry.
The letter said that the union budget has recognized the automobile industry a driver of growth in the manufacturing sector, the economy at large and its ability to further increase employment.
Shri Ravi also offered the society's cooperation to address issues relating to availability of finance and ensuring a stable interest rate regime.
Press Information Bureau Government of India
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