Human Signature

While FM must have an eye on the LS elections  and also the impact of the low vote share % in Saurashtra, one thing which must be applauded that there were no giveaway subsidies and no loan waivers which has been very common in the past. Currently the government is facing number of constraints and challenges like: 1. 40% increase in oil prices over last 6 months 2. Slowdown in growth 3. GST impact 4. Inadequate private investment and distress in agriculture This is a pro Rural, pro Agriculture and pro Woman budget. While the middle class might be disappointed, we must accept the fact that we need to take care of the 90% of the population which lags behind. The fiscal deficit target has been eased at 3.3% of the gross domestic product to accommodate higher demand for expenditure against the earlier target of 3%. While this might disappoint many, one needs to understand that the higher target is set in a country which has introduced bank re-capitalization,