Modi likes the budget to be a low-key, routine, annual statement of accounts. Big bang announcements can be made through the year, when it suits his politics
The finance minister wants to encourage people to move from savings to consumption
Expectations of a growth stimulus have been belied
The government should have increased allocations to the MGNREGA, PM-KISAN and rural infrastructure to raise incomes in rural areas
It appears to incentivise consumption but also puts hurdles in its path
Benefit of reduced corporate tax rate of 15% extended to newly set up domestic companies engaged in power generation
FM fights shrinking fiscal space by increasing non-tax revenue, freezing growth in subsidies
There was no relief for Most sectors that had hoped for an impetus
It recognises it cannot afford space for expansionary fiscal policy
Nirmala Sitharaman told the media she was confident of the divestment process gaining pace in the next six months
We may well end up with the same budgetary mess that we have experienced this year
The Centre's commitment to reduce harassment of a sound taxpayer reaffirmed
The government has wasted the chance to firmly establish its reform credentials
If more expenditure in the rural economy is the need of the hour to revive demand, it is debatable if such tax giveaways could have waited till GDP growth picks up a little
To trigger creativity in cinema, the making of films has to become cheaper too
Budget has a large number of measures, but they are useful in the small
The personal income tax has been simplified and reduced. Individuals will have to pay tax at the reduced rate of 10% for incomes of Rs 5-7.5 lakh, against the current rate of 20%
Increasing corporate bond market participation from 5% to 15% of outstanding bonds will enable larger global funds into triple A credit.
At present, there are 483,000 direct tax cases pending in various appellate forums i.e. Commissioner (Appeals), ITAT, High Court, and Supreme Court.
The finance minister has been lucky that she is not presenting the Budget in the midst of the election season, this is a balanced Budget nevertheless