Sir — This refers to the editorial, “The action begins now” (March 2). No Budget can satisfy the hopes and aspirations of all sections of the society. Successive Union Finance Ministers had aimed at fine-balancing populist measures with economic change. Many of them, however, were unable to come to terms with the common line of differentiation between the two. Mr Arun Jaitley has been largely successful in soothing the minds of both the common man and corporate India.
The thrust on insurance and pension schemes are aimed at the man next door. The importance on savings is more forthcoming than the focus on spending. There is, in general, an aim to boost self-employment, though Mr Jaitley has not been very explicit on the issue.
The Finance Minister’s take on black money reveals the Government’s resolve to tackle the issue. The stress on fiscal consolidation was expected. Mr Jaitley, unexpectedly, has spoken well about the UPA’s pet project, the MNREGA, by providing more funds to it. The setting-up of a national infrastructure fund and keeping the retrospective taxations in deep freeze are good measures. He has rightly stressed that the budgetary exercise cannot be confined to a day; it should revolve round the clock.