The Union budget is sharply focused on a few key themes, which had already been spelt out by the finance minister earlier. The budget focuses on an efficient and effective government, rationalization of taxation, de-stressing the rural economy with an infusion of funds, soft and hard infrastructure with more than Rs.2.2 trillion in allocations for railways, roads, airports and waterways. It also focuses on human resource development and de-stressing the financial systems. It will be a welcome step to move from a fixed fiscal deficit target to a range, which will provide necessary fiscal space to the government. Overall, the budget’s emphasis is on building the fundamentals of the economy and economic and financial institutions.
The government’s focus in terms of ease of doing business has been not just for corporate entities but also for ordinary people, with attempts being made to remove irritants in their dealings with the government.