“It’s not the stimulus, stupid” (Feb 25) makes the correct point about the so-called stimulus. A tax roll-back of Rs 30,000 crore in a Budget that is spending Rs 10.2 lakh crore is small change and so unlikely to affect the fortunes of corporate India as much as is being made out. The tax cuts are significant only in an economy which is slowing — when the economy picks up, as it is doing now, and there are more jobs and higher salaries around the corner, the impact gets EMI-sed and is barely noticeable.
Sanjay Kohli, Noida
