The Union Budget 2007 was presented in the backdrop of what is now widely accepted as strong macroeconomic fundamentals, an impressive GDP growth rate exceeding 9% and a growing apprehension on the inflation front.

It is a growth-oriented Budget. Growth is also a function of investment. If investment is taking place, there is nothing to suggest that growth would not take place.

The Budget has focused on an inclusive and balanced growth, controlling inflation and strengthening infrastructure.

The UPA government’s Budget for 2007-2008 is disappointing. Given the basic parameters being healthy, the opportunities for addressing the problems of inflation and unemployment have not been adequately made by the government.

The much awaited budget is out and everybody is demanding his/her pound of flesh from the budget. From an individual investor’s point of view, it has been an average budget with no significant benefits on the personal finance front.

The Budget has paid special attention to the rural sector—allocating Rs 2,25,000 crore for farm credit, asking regional rural banks to expand their network, augmenting Nabard by issuing bonds worth Rs 5,000 crore.

Given its potential as a growth driver for the economy, the knowledge sector had its share of long-term bets and short-term hedges in Budget 2007.

There have been too many identification numbers chasing investors in the securities market. We had seen the introduction of MAPIN and MIN and subsequent withdrawals.

The Budget speech for 2007-08 in a fundamental sense is a break from its several predecessors. For one thing, till last year economic growth of 8% and above were yet targets, and there was some uncertainty about the likelihood of reaching such rarefied levels.

The emphasis in the current budget has been on giving a new thrust to agriculture and the social sector.

It’s a presentation avidly watched and discussed by policy makers, office goers, home makers, shop keepers in virtually every nook and corner of the country.

In an interview to The Financial Express, Sitaram Yechury, Rajya Sabha MP and CPI(M) politburo member—an ally of the UPA government—voiced his concerns over Budget 2007-08.

The strongest impression that one gets of the 2007 Budget is of a government that is conscious of the ethical and political imperatives to restore equity to strategies of market-led economic growth.

Like my previous Budgets, this one too is a pro-poor Budget. I have worked to help the poor. With our increased surplus, we can definitely do more in this direction.

It reflects the health of the system. We’ve been increasing freight loading, which gives 65% of our income. Only 35% of our income comes from passenger traffic.

In the initial period of reforms, the government did not have adequate experience or the capability in developing public-private partnership (PPP) projects.

Former Governor of Uttar Pradesh and senior Congress leader Motilal Vora, who was twice chief minister of Madhya Pradesh, currently holds the all-important post of treasurer of the All India Congress Committee.

The way I look at it, non-recourse lending is a big problem, even if you participate in equity. IDFC is a triple A rated entity, but that does not help an SPV based project-like construction, for instance.

Jawaharlal Nehru University vice-chancellor BB Bhattacharya is a well-known economist and was director of the Institute of Economic Growth till June 2005, when he took over the reins of JNU from GK Chadha.

Indian industry has given full marks to Finance Minister on reforms process which has, however, been overshadowed by disappointment on absence of initiatives on fiscal policy front. FICCI’s secretary general Dr Amit Mitra spokes to Veeshal Bakshi & Sanjay Sardana on fallouts of the Budget.

When finance minister Yashwant Sinha was still earning his spurs in the Union finance ministry, preparing his first budget in 1991 as a member of the short-lived Chandrashekhar government, one of his key aides was the then chief economic advisor Deepak Nayyar. Dr. Nayyar in a conversation over the weekend with Sanjaya Baru of The Financial Express. February 25, 2002

The annual Budget for 2002-03 will kick-start the ambitious Tenth Plan that seeks to achieve 8 per cent gross domestic product growth rate by focusing on agriculture, irrigation and rural development in addition to infrastructure. February 18, 2002