)
No, I don't think so. Quite frankly, I had expected more stimulus and investment in the hospitality and aviation sectors. The regional airports, in particular, needed immediate attention from the government.
Is this a populist, please-all budget?
Well, with the announcement of the additional 10 per cent surcharge on those whose taxable income is above Rs 1 crore per annum, clearly, the Budget won't please everyone. But yes, the masses will be happy with most of the announcements.
Will it help the economy, create jobs, restart stalled projects?
I'm not so sure about that. The Budget hasn't really announced any concrete measures to clear the uncertainties in the air.
Will it help UPA win votes in the general elections?
Well, several announcements and measures will go a long way in helping the UPA win votes. One, in particular, is the special focus on women by way of all-women banks across the country, with an allocation of Rs 1,000 crore as initial capital to start the first all-woman bank and the Rs 1,000 crore Nirbhaya fund for women's safety. Finance Minister P Chidambaram has also laid emphasis on minorities. Also, there is a benefit of Rs 2,000 to individual tax payers with taxable income of up to Rs 5 lakh. This year, there is no change in either slabs or rates of personal income tax, which will continue at 10, 20 and 30 per cent. This will make most people happy. Except those with an annual income above Rs 1 crore, of course.
