Disappointment was writ large on the face of the common man on the street after the Union Budget was presented by Union finance minister Nirmala Sitharaman with many saying that it had nothing much for the middle class.
The Budget has made a sincere attempt to pull up the economy. The emphasis on capital expenditures is well taken. There’s a substantial increase as a proportion of GDP. The shift is more in the composition than the total of expenditures. It’s unlikely that the fiscal deficit will hold. We shouldn’t be surprised if it exceeds.
The Centre on Monday stuck to the 15th Finance Commission’s recommendation to share 41% of tax receipts with states, while accepting in principle several crucial recommendations, including the creation of a non-lapsable modernisation fund for defence and internal security.
