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