It was not a surprise that a politician with the stature and experience of Pranab Mukherjee would be able to pull off a difficult tightrope walk with such elan. The Union Budget does not disappoint on that count. After a rather bruising slowdown, this Budget delivers the goods. The twin aims of gradually moving back to fiscal consolidation, and yet ensuring growth momentum is not disturbed in doing so, are met.
So, while there is a big-picture commitment to fiscal prudence, the minister shows us those are not hollow promises: the deficit for FY10 has been kept in control at 6.9 per cent, and the target for FY11 set at 5.5 per cent.
He has also taken the tough political call of hiking duties on petrol and diesel. The Budget gives some, takes some -- a restrained and mature document.
