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