The Federation of Indian Chamber of Commerce and Industry, FICCI, has said that the Budget is not going to stimulate economic growth. Speaking to media, 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.Confederation of Indian Industry, Bengal Chamber of Commerce and Industry and other industrial bodies have expressed their dismay on the budget proposals. They regretted the absence of any major sops for the industry in terms of benefit in indirect taxes.