The electronic media and business newspapers are overwhelmed with joy, as is the business class whom they generally represent, in their reactions to the Budget. Mani Shankar Aiyar is right to express his views about the lack of thrust or direction for the people who are not from big business. I wholeheartedly agree with Deepak Lal, who has always been very insightful in his articles, that it is a do-nothing Budget (A missed opportunity?, March 1). While there is a bonanza for the top class of the economy, there is ridiculously little for the unorganised sector and the fixed-income group that pays taxes instead of siphoning off money to banks abroad.
There are some measures that may aggravate inflationary pressures at a time when the non-favourite class of the media is feeling the pinch. It certainly is not “an anti-inflation Budget” and I have not the slightest trust in the statement that “the finance minister has shown a pre-occupation with controlling prices” (T N Ninan, March 1). This will become evident in the coming months. Stock markets cannot be the criteria for judging a Budget.
Naresh P Mankad, on email
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