Balanced and inclusive: A M Naik

 The Finance Minister has done a commendable job in balancing political, social and economic compulsions in this Budget. Riding on the back of a robust growth rate, he has focused on inclusive growth with initiatives in sectors like education, rural housing, roads, drinking water, health and agriculture.

 The continued focus on infrastructure projects like the national highways, irrigation, water management projects and the ultra mega power projects is critical for economic development and will boost the manufacturing and capital goods industry.

 And by raising the personal income tax exemption limits and rationalising the tax slabs, Mr Chidambaram has ensured that the common man has a higher disposable income. This will increase demand and stimulate growth.

 In keeping with his commitment, the Finance Minister has continued to pursue the process of reduction of the excise duty. However, reduction of peak customs duty on project imports will further adversely affect Indian manufacturers from artificially-priced Chinese competition.

 The decision to eliminate the cascading effect of dividend distribution tax is also a step in the right direction. The Finance Minister