Finance Minister Arun Jaitley looked nervous before the presentation of the all important budget but must be a relieved man after stocks fired up in yesterday’s trading to give his budget an 800 point salute. The budget one thought was historic with no negatives for any particular sector as the FM tried to maintain balance to walk the talk in these difficult time when world economy is going through turmoil. Investors felt relieved with no LTG on stocks which was feared, most people were happy with no increase in service tax that was anticipated and everyone accommodated in Jaitley’s budget with a bigger pie going to agriculture which was surprising but an pleasant one at that.
The withdrawal tax on EFF and pension scheme was a slight dampner more so when senior citizens don’t get post-retirement benefits in our country like medical and otherwise which they have in the US or other developed nations. It is difficult to make every citizen happy but one thought FM had done his homework well and there was no negative surprise in the budget. Opposition should join hands with the ruling government so that important bills can be passed in parliament which would benefit citizens. Once in Parliament, one should forget if the member is from the opposition or the ruling party and should work for the betterment of the country!
(The views expressed by the author in the article are his/her own.)