Budget 2008 has exceeded expectations in terms of rural development, education and agriculture. It is commendable that the economy has seen a growth rate of over 8.8%. This budget will provide an impetus to inflation control. Specific to LG India, there will not be any major changes in terms of product pricing, as there has been no major relief in duties. We welcome the relaxation in excise duty from 16 % to 14%. For a manufacturer, however, since we are exposed to open competition with various ASEAN countries, some relief on raw materials and intermediate goods would have made our industry competitive globally.

On the whole, it is extremely favourable towards the agricultural community. The various reform measures announced moves at improving the health and the farming sector in the country. This would also result in the upliftment of the economy as steps have been taken towards improving the lifestyle of the farmers. This would further create additional markets, which is an encouraging sign.