However V.P Chopra, president of Federation of Punjab Small Industries Associations, said that this Budget was more farmer-friendly and it seemed that FM was mainly concerned about the ensuing Lok Sabha elections. He added, “There are no positive steps enumerated in the Budget proposals that how the industrial production has come down to 9% from 11.6% in the last year. No supportive measures have been announced to improve the health and productivity of micro and small industrial units in the country,” he said.

Sanjeev Gupta, convenor of Institute of Chartered Accountants of India, said that the Budget seemed to be build on the pillars of social welfare schemes and inflation. He added, “With reduction of excise duty on small cars and two wheelers, their demands will increase. Raise of personal income tax slabs is a welcome step while rise in short term, capital gain tax and commodity transaction tax is a negative step, said Gupta. He added, “The waiver of Rs 60,000-crore worth loans of farmers is a wrong precedent and will reward the defaulters in the banking sector.”

The Auto Parts Manufacturers Association however hailed the Budget as “people-friendly” even as it lamented that it had failed to address the problems faced by the small scale sector.