This is an outstanding budget - exactlywhat was required, especially keeping in mind the complexion of thegovernment and attitude of the Opposition. There is no way that theOpposition can complain about the Budget. A refreshing contrast to theRailway Budget.Where will he get the money from, when he has not raised any taxes. Exceptthe 2 per cent surcharge on Gujarat - which no one can complain - there isno additional tax burden. The plus points are that the budget is growthoriented, forward looking and very investor friendly. It is positive ondirect and indirect taxes and good for agriculture and infrastructureespecially ports, roads, telecommunication. We badly needed these steps oninfrastructure. The budget is good on labour law reforms.
The reduction on excise duty on cars to 32 per cent, and on two-wheelers to16 per cent is welcome.
But I am very unhappy about the fact that second hand vehicles have not beenbanned. There is no country which allows second-hand vehicle imports, ifthey have a domestic industry because that sector would be wiped out becauseof these imports. India is the only country to have allowed these imports.For the first time it was not a politically motivated budget. We have toremember that one budget cannot solve all the budgets, but this is a goodbeginning. The disinvestment target should have been higher, around Rs20,000 crore instead of Rs 12,000 crore. We should not take the pastexamples in this case. The Balco disinvestment was totally transparent andthe pricing was correct. It is a certain section which is misguiding peopleon the deal. In the case of Maruti Udyog's disinvestment, I have not beenable to understand how it will work.
Copyright © 2001 Indian Express Newspapers (Bombay) Ltd.
