“The budget 2011 has exceeded expectations in terms of rural development, education and agriculture. It is commendable that the economy has seen a growth rate of over 9%. This budget will provide an impetus to inflation control.

On the whole, it is extremely favorable 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 life of the farmers. This would further create additional markets, which is an encouraging sign.

Specific to Panasonic India, there will not be any major changes in terms of product pricing as there have been no changes in duties. We welcome the reduction in excise duties on LEDs.

However, for a manufacturer, as we are exposed to open competition with the various ASEAN countries, some relief on raw materials and intermediate goods would have made our industry competitive globally.

Overall, I foresee an improvement in the macro-economic condition of the country, as this Union Budget proposes to boost agriculture and health industry.”