The Finance Minister should be lauded for the budget that he has presented today.In the current global scenario of recession he has shown his prudence and experience in every respect.Firstly the waiver given to the farmers will not only boost their confidence in the sector in the long run but also help to rejuvenate the sluggish banking sector.The Poor farmers who work for their livelihood could have been defaulters in the long run and hence hampered the banking sector.Secondly,the much awaited tax rebate for the salaried middle class will further increase there spending capacity and hence boom the various industries.By raising the tax slab for the women to 1.8 lakhs the FM has further empowered the so called weaker gender of the society.Thirdly,by cutting down the excise duty from 16 to 12% for cars and motorbikes will increase their demand and hence attract more investment in these manufacturing sectors.The FM has also been sagacious enough to cut the duty on hybrid cars to 14% which will indeed boost the sales of these cars and contribute to a much greener environment.Fourthly,the increase in short term capital gain tax will deter retail investors from pulling out their money impetuously and help sustain the indices to a small extent.Fifthly,the sops for the health care industries to open up hospitals in tier 2 and tier 3 cities is a very far sighted move by PC.
In the wake of global recession the FM should be patted on the back for having sustained the growth rate at 8.8% which is phenomenal and exemplary work.There\'s no doubt that this budget seems to be a very poll oriented one but those who like to get to the root bottom of things will surely realize that the astute FM has found the most subtle solutions for the future years of the nation.This budget will not only help to narrow the disparity betwen the rich and the poor but benefit the Indian economy in the very long run.Kudos to Mr P.Chidambaram to present such a well rounded up budget.