Went through the budget thoroughly. In line with expectations and I'm a pessimist
I have a feeling that while the next 5 years will be a gigantic improvement from the previous 5,
it won't be what I was hoping it would.
What were you hoping for and where are you most disappointed?
The more the day went on and the more infos came out, the more it seems like a hasty compromise rather than a real way forward. They touched as much as possible and what surprises me the most, are following or even simply taking UPA ways, but didn't show at least one field where they really wanted to change something.
The statements of BJP are also most confusing, when you compare it with the budget!
They talked about bitter pills and hard decision must be taken and raised the several in several fields, but now giving the middle class a 22000 crore tax cut. How does it add up when they hike railway prices to gain 8000 crore, but give away more than twice the ammount for free???
Also they support people to save more at the Banks, but at the same time they cut taxes for mobile phones, televisions and stuff, to make people spend more. So what now, saving or spending?
Coming back to the railway, they invite FDI, but only in minor fields. The stations, the tracks and all will remain under government, but privat companies can take over caterying for example at some stations. So basically they invite Mc Donalds or Star Bucks, with the hope to get more funding, but don't privatise parts of the railway system, to gain more direct investment and improvement but then again, if they go on advertising how bad the situation is and that they don't get any revenue, which private company will come and take a share anyway?
What I like in the budget, is the fact that they kept FDI in defence and the Bank sector at 49%, which leaves these crucial fields in Indian control! With the gobabl financial situation getting better, this raise will invite more investments for anyway.
The defence budget raise is welcomed, but rather disappointing, since it hardly is different from what UPA wanted to allocate anyway.
The focus on infrastructure improvement is important for Indias industry, but much of it is based on hope of gaining FDI as it seems, the funding details are still to come.
Also good, the focus on tourism one of the key sectors that can give India a push.
)
