From being termed as an attempt to please the middle class to inflationary in nature, the foreign media has hailed India's Union Budget for 2010-11 as a 'prudent Budget' and aimed at cutting the country's debts.
"India's finance minister is seeking to please the middle classes with his latest Budget," broadcasting major BBC said about the Budget proposals unveiled last week, but also added that the proposals might not address the needs of the underprivileged.
At the same time, the business magazine Forbes termed it a "prudent Budget" and said that the country was aiming for growth with fiscal discipline.
Wall Street Journal took note of India's plan to borrow heavily in the coming fiscal year and also of its decision to "roll back some costly spending that helped support the economy through the global crisis as the government begins trying to repair its tattered finances".
Another American daily New York Times (NYT) also focussed its coverage on the Indian government's pledge to curb debt.
"Acknowledging that its growing debt could threaten India's economic growth, the government said on Friday that it would cut its fiscal deficit by slowing the growth of spending, increasing revenue from taxes and selling pieces of state-owned firms," NYT reported on the Budget.
