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