The Union Finance Minister Arun Jaitley has presented his maiden Budget Speech in Parliament today. Jaitley said the Government intends to usher in a policy regime that would bring the desired growth, lower inflation, sustained level of external sector balance and prudent policy stance.

T V Narendran, MD, India and South East Asia, Tata Steel, said, ''The 2014-2015 union budget, presented by Arun Jaitley, reflects the pragmatic outlook of the government. This will help create an environment of confidence and trust amongst the business community and investors. However, we are disappointed with the expected increase in the rate of royalties for minerals. It would lead to an additional cost burden on an already capital intensive industry.

Overall, the budget has been positive with respect to meeting industry expectations. We look forward to the execution of the economic reforms advocated in the budget and to work with the government to help revive and drive the economy.''