Budget a missed opportunity: Economists

The Union Budget has been described as a "missed opportunity" and "common minimum budget" by the economists of the India Development Foundation.

"The government this year was placed on a very solid footing. The initial teething problems were over, the Left had been very responsible and reasonable and on all accounts, this was a god-given opportunity to present a radical budget," Amir Ullah Khan of the foundation said at a 'Budget 2005 analysis' organised by DC Books and DC School of Management and Technology here last night.

Much was expected of the budget on trade and agriculture, he said, adding the opportunities given to it on a platter were not utilised.

Shubhasis gangopadhyay, founder director of the foundation, said 'knowledge centres' was not a bad idea. India is already 85% web-enabled and this is the right time to start such centres.

Speaking at the function, T K Arun, senior editor, The Economic Times, said the budget was a disappointment on the fiscal correction front, but the emphasis on rural India was a welcome sign.

In the first phase of the reform process, only sectors like it were being integrated into the global economy. The government now appeared to be focussing on integrating the large rural economy with the rest of the market, he said.