The Budget is a disappointment. The Indian economy
has been spluttering for the last two years. GDP growth
rates have declined from 8 per cent to about 4.5 per cent. Unemployment is running high at 6 per cent. Consumption is falling in every sector; be it cars, houses, two-wheelers etc. Companies are laying off workers in large numbers. It was thus widely expected that the Budget would be dynamic and lead to demand and investment revival. Unfortunately, the finance minister has presented a pedantic Budget, which will not provide the desperately needed stimulus to the economy. The Sensex fell by 1,000 points underscoring the lack of confidence in the new Budget proposals. A golden opportunity to boost the economy and provide jobs has been lost.