‘Progressive budget but many questions remain’
12 July 2014 5:00 AM IST
Experts in the national capital have appreciated the union budget presented on Thursday. Though many say it is a progressive budget, some are of the opinion that implementation of the same may be a cause of concern. ‘The budget reflects grand plan of the government. It has a detailed vision, with development oriented. It is really difficult to say what has been left out,’ said Rajiv R Thakur, director, Jaipuriya Institute of Management. However, the challenge of implantation remains.
‘Various measures have been adopted. Tax exemption limit has been extended to 2.5 lakh. Foreign Direct Investment has been welcomed. There is more focus on infrastructure, promotion of tourism sector and the agriculture sector has been intensely observed, besides the promotion of knowledge and skills development. But caution should be taken while setting the priorities. Government should be cautious that fissures between different ministries have to be avoided as a matter of priority,’ said Rajiv Thakur.
Dr Shri Prakash Singh, Ambedkar chair in Social Justice, Indian Institute of Public Administration is confident that new government will be able to handle the responsibilities. ‘The budget is progressive. Each and every section of the society has been touched. It is a functional budget. Since the working methodology of the government is changing, so it is expected that in few months things will be on track’, said Prakash Singh.
In the budget, fiscal deficit has been targeted at 4.1 per cent of the Gross Domestic Product (GDP). ‘However the question of fiscal deficit does possess certain grey areas. It is to be seen how the government will manage it’.
‘Various measures have been adopted. Tax exemption limit has been extended to 2.5 lakh. Foreign Direct Investment has been welcomed. There is more focus on infrastructure, promotion of tourism sector and the agriculture sector has been intensely observed, besides the promotion of knowledge and skills development. But caution should be taken while setting the priorities. Government should be cautious that fissures between different ministries have to be avoided as a matter of priority,’ said Rajiv Thakur.
Dr Shri Prakash Singh, Ambedkar chair in Social Justice, Indian Institute of Public Administration is confident that new government will be able to handle the responsibilities. ‘The budget is progressive. Each and every section of the society has been touched. It is a functional budget. Since the working methodology of the government is changing, so it is expected that in few months things will be on track’, said Prakash Singh.
In the budget, fiscal deficit has been targeted at 4.1 per cent of the Gross Domestic Product (GDP). ‘However the question of fiscal deficit does possess certain grey areas. It is to be seen how the government will manage it’.
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