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What’s the fallout for 2014? Service or dis-service No lessons learnt 250 days of Modi government Selective lobby session with Jaitley... The helpless voter Less government, better governance… Speed up the railways Science diplomacy: bridge the world through science One down, one to go In paper? Or in action? AKKINENI NAGESWARA RAO Matchless at 70 Brilliant Saeed Saab From Father India to Mother India The national power grid at last! Business wanted Modi as PM. It’s time to back up. Hey, CAs. Be more vigilant. India Inc excited about Modi’s elevation A spectacular Shanghai show Happening Haryana Whose money is it anyway? Scientists’ responsibility to society JAM – Jan Dhan, Aadhaar and Mobile Electricity finance reform at last Demonnetisation or demonisation? The religion named Football Take a cue from western partners Breakthrough Budget Ooh la la... Spate of disinvestments by private sector too! Guzarathukars and Palkarars of Erode... We pull each other down needlessly... ‘Big ideas’ of Modi… Vibrant show by corporates Union Budget: Voices Netherlands to join India in Make India campaign and Smart City projects Mysuru – India’s cleanest city It is attracting investments, stupid! Case for phasing out LPG subsidy... Foreign Investors’ get major relief from RBI
 
Union Budget: Voices

M R Raghu
Senior VP – Research,
Kuwait Finacial Centre K.P.S.C (“Markaz”)


Strong points:
It is reassuring to see that this government has not announced any populist moves.
I would welcome a “careful and considered” step on important issues, than to pander to the “big bang” expectations of the media.
The FDI limit increase in insurance and defence, the intent to reduce fiscal deficit and end tax adventurism and focus on infrastructure spending to spur economic growth.

Weak points:
The biggest weakness of this budget is its disturbing silence on the issue of subsidies. At $43 billion, I was expecting the government to give some sense of direction here. If not addressed clearly, we still run the danger of a downgrade rating.
The dream like forecast on growth is not matched by credible explanations on how this will be achieved. Add to that is the ambitious target on privatisation which no government ever gets tired of announcing but very little action happens on the ground.

If I were Jaitley...
I would have taken steps to setup a high level committee with representations from each state to ensure that the process of implementing the Goods and Services Tax Act would be hassle free.


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