K Raghavendra Rao Reaction on Budget 2012

“The budget bears the stamp of today’s political and economic climate, and the Finance Minister has played it well.

While the Pharma industry would be disappointed as nothing substantial was announced for the sector, the five year extension to the 200% R&D tax deduction is a welcome move. Initiatives like liberalizing of external commercial borrowing rules and the boost to investment in infrastructure sector are particularly laudable.”