The budget has it all except deficit...

Since I have been a spectator of the Indian economy for past several years it is natural for me to form an impression of the budget and I find it worthwhile to put my angle before my audience. Everybody was waiting for a relaxation in the fiscal deficit target which did not materialize, but the thrust for development and growth is clearly evident in the spending without deficit. Almost all the important ideas economists and analysts pointed-out have found space in the budget, be it agriculture, ease of doing business, infrastructure, health, farmers, irrigation, skill-development, job creation and many more… Although, the allocation of resources is always a problem, demand is higher, but the budget is right in the spirit when our FM did not want to sacrifice deficit and macro-economic-stability for more spending and higher growth rate. Probably the specter of last government’s overheated economy prompted our FM not to go overboard and keep the powder dry for the troubled times. But, he has targeted the right places which might need more resources, but resources are scarce with supply side problems in a developing economy and low inflation is important for policy-making and the credibility. If the government gives money to people to buy food and it is not available in the market, it would increase inflation and would cut real wages… Our FM tried to avoid these repercussions of too much spending which was a good take… A sensible budget…