Today's interim budget which was announced by the Interim Finance Minister - Piyush Goyal got a positive response of the stock markets which cheered for the major announcements made by the government. Apart from this some of the industry leaders also sounded positive on the 2019 budget proposals.

Let's take a look at what people from the industry said about the Interim Budget 2019 and their reactions.

Mr Raghvendra Nath, MD at Ladderup Wealth Management, which is an independent private wealth management and investment advisory firm stated that "The Budget has been on the expected lines. From a simple vote on account, the government decided to do an interim budget and it was clear that the government wanted to use this opportunity which is one of the last opportunities before them to send positive messages to the different voter segments. In this budget, the government has tried to cover all the people, especially farmers who were in a lot of distress and discontent, so by announcing an assured income for farmers would help to take a sting out of their distress. This has been one of the biggest benefits. Then the cosmetic change in the income tax slab from Rs 2.5 lakh to Rs 5 lakh will send a positive message to the middle-class voters. As the finance minister mentioned there are almost 3 crore voters in middle-class category. Hence, a large pool of people would be getting a benefit of Rs 10,000 to Rs 12,000 which is going to be a major benefit to them. Besides these two major things, the budget has been full of past achievements and future visions. From the equity standpoint, there will be more income in the hands of people which would lead to more consumption and hence resulting in benefits to the economy. Also, the government has managed to give sops and still maintain a fiscal deficit target as a result of higher collections on indirect fronts. So, the benefit of GST collections is becoming visible, as well as more and more digitalization of income tax is helping the government mop up more taxes and thereby giving the ability to provide more for the social sector."

Chairman of Mahindra Group, Mr Anand Mahindra stated that "I was bracing for a populist, profligate budget driven by 'election panic.' I'm just grateful that the reliefs to the key middle class & farmer segments were delivered in a measured way without risking bankruptcy of the economy. This was a controlled, pump-priming exercise...".

The FICCI (Federation of Indian Chambers of Commerce and Industry) has welcomed the Interim Budget of 2019 and said that the tax exemption will help corporate India in the consumption that in turn will arise the economy as money will be freed up in the hands of the salaried class.

The FICCI President, Sandeep Somany commended the Finance Minister for covering the unregulated labour in the pension scheme.

The ASSOCHAM General Secretary - Uday Verma, stated that the "budget has something to offer to everyone, be they farmers or government employees. He said allocations ranging from education sector to the health sector have been increased."

He also stated that concessions which were announced for the MSME sector in terms of increase in interest subvention will directly benefit the sector.

Mr. Nadir Godrej, Managing Director, Godrej Industries and Chairman, Godrej Agrovet said that the "Acting Finance Minister Piyush Goyal was very articulate. He presented more of a manifesto than a budget. Relief for middle class home owners and for farmers would be a boost to agriculture, animal husbandry and the realty sector!."

Mr Ranen Banerjee of PwC India noted that "The income tax sops for the taxpayers will lead to higher disposable incomes for discretionary spends. This will support demand uptick. We expect credit growth from some of the banks coming out of the PCA(Prompt Corrective Action) framework and realisation of 3 lakh crore rupees of NPAs as announced. The changes to the capital gains from the sale of house property, being allowed to be invested in 2 properties instead of one and the 10-year window for registration of affordable housing projects for getting tax relief will provide a boost to the real estate sector and consequently to construction activity. We expect good tailwinds to the India growth story from these announcements in the budget".

The American business and financial services firm - Moody's has trended a cautious note on the interim budget of 2019 and noted that "there is an absence of new policies to boost revenues but has many measures leading to higher expenditure which though will increase consumption will also increase the fiscal burden.

The budget pegs fiscal deficit slipping by 10 bps to 3.4 percent for the current year, courtesy an income support scheme for farmers and expects it to stay at the same level in FY20 as well.

"Ongoing slippage from the budgeted fiscal deficit targets over the past two years, and our expectation that government will face challenges meeting its target again in the year to March 2020 does not bode well for medium-term fiscal consolidation.

"We view this continued slippage as credit negative for the sovereign," the agency said in its quick note on the interim budget."

Mr. Mayur Shah, Managing Director of Marathon Group's view on the interim budget 2019-20

"The interim budget, presented by finance minister, Shri Piyush Goyal provides fiscal stimulus of close one trillion rupees through direct cash benefits to small & marginal farmers and tax sops for the middle class. This is expected to boost consumption and a good step for the economy.

The measures announced by the government for encouraging purchase and availing tax benefits while buying a second home is a positive step to minimize the risks associated with high levels of unsold residential inventory.

We expect that measures such as no tax on rental income of up to Rs 2.4 lakh on second house, capital gain benefit under Sec 54EC doubled to Rs 2 crore and allowing it to be deployed in two houses, will give fillip to demand in the residential realty segment.

The exemption from levy of tax on notional rent, on unsold inventories, from one year to two years, will be of immense relief to the real estate sector.

Also the income tax exemptions to the middle class will boost home sales and support demand growth."