21 October, 2020

Nipped In The Budget

Long on hype, short on delivery. That in sum is Jaitley’s maiden financial statement.

Getty Images (From Outlook 21 July 2014)
Nipped In The Budget
outlookindia.com
-0001-11-30T00:00:00+05:53

Hype & Reality

Fresh Fiscal Targets

  • Hype: The BJP talked of managing the economy more prudently with realistic targets...
  • Reality: The budget has retained most of the fiscal targets set by the UPA government

Subsidies

  • Hype: Rein in subsidies, which account for a major part of the deficit
  • Reality: Spending on fuel, food, fertiliser and other subsidies rose to 16 per cent of the budget

Personal Income Tax

  • Hype: Big-ticket reforms in income-tax slabs and exemptions...
  • Reality: Minor change in threshold and exemption limit on investments

Disinvestment

  • Hype: An ambitious roadmap for PSU privatisation expected...
  • Reality: But for a modest target of Rs 63,000...
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