The Federation of Indian Chamber of Commerce and Industry, FICCI, has said that the Union Budget presented today is not going to stimulate growth in the economy. Speaking to media in New Delhi today just after the presentation of Budget in the Lok Sabha, FICCI President Mr. R V Kanoria said that the budget seeks to raise additional 40 thousands crores revenue through taxation, but there is no mention of controlling subsidies on diesel and foods.Mr. Kanoria, however, praised the Finance Minister for targeting overall fiscal deficits from present 5.9 per cent to 5.1 percent.FICCI Vice -President Ms. Naina Lal Kidwai welcomed the budgetary focus on infrastructure and hoped that pending several financial bills would be taken up urgently in Parliament.