Mail Today Business Editor R. Srinivasan on Union Budget 2011-12
R. Srinivasan February 28, 2011
The finance minister has played true to
form, sticking to the rule book and his party's core political interests in
formulating his Budget . In the backdrop of concerns over high prices, rising
scams, a growing governance deficit and worries over fragilities in growth,
there were hopes for some radical measures to tackle these issues.
The tax proposals were clearly designed to link with the introduction of the new Direct Taxes Code from the next financial year, as well as the introduction of the Goods and Services Tax. Reforms remain a promise for the future while no substantive measure on black money was seen. Overall, a workman-like but uninspiring Budget.