Expected a nationwide GST rollout: Govind Shrikhande

Finance Minister P Chidambaram used a lot of words to describe the intent of the Budget- hope, courage, destiny. Inclusive growth is the overarching theme of the budget, with three faces of India as the theme of spending & investment: women, youth & poor.

Has he been able to deliver on these counts? We will have to wait and watch. But Investments in Training & Skill Development for the Youth are in the right direction. Women's Initiatives including a Women's Bank is only a starter, whereas Agricultural Loan, Food Security Bill & DCT could bring in a lot of cheer in the long run to the Farmers.

Apparel zero duty is a welcome move and would provide great relief across the entire textile and apparel chain. Reduction in excise duty on leather goods by two per cent is also a good move.

Interest relief for first time home owners, drive for bringing in investment funds, infrastructure investments in roads, ports, power generation, small relief in the lowest tax slab, STT reduction, easing of baggage rules are long-term Initiatives with solid long term Impact on the economy.

Overall, the finance minister has done a balancing job of avoiding too many populist announcements - of the T20 kind, and stuck to a long-term approach - similar to a Test Match.

Govind Shrikhande
Managing Director, Shoppers Stop