Tuesday, May 18, 2021
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Thanks giving budget after demonetization pain

The cat is finally out of the bag and it was only a ‘Meow’ and not a ‘Roar’ from Finance Minister Arun Jaitley as no negative surprises was prevalent in the financial statement. A soft budget was expected after demonetization pain and on eve of elections in some States including Uttar Pradesh which virtually voted Modi government to power. Goodies for the rural economy, infrastructure and low income group was expected. No mention of demonetization gains was a disappointment, may be not much gains and only pains one presume. Stock markets spared of extra taxation which was a relief. A budget to please public sentiment with an eye on elections can only be termed at best an ‘Average’ and one thought Finance Minister missed an opportunity to put Indian economy on the fast path.

(The views expressed by the author in the article are his/her own.)

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