• Bibek Debroy best summed up Pranab Mukherjee’s Budget. It’s indeed the kind of Budget we deserved since it’s “not flashy and spectacular”. However, one does recall the saying, “A finance minister has few friends and his arithmetic is poor.” For instance, the FM’s cabinet and party lawyer colleagues must be peeved that the service tax will cover them too. While increasing the fiscal deficit Mukherjee’s figures of barely Rs 1120 crore for disinvestment aren’t wrongheaded, but given his party’s social sector projects such as rice at Rs 3 per kg, all calculations seem wrong.

— Prasad Malladi

Nidadavole

Looking ahead

• The FM deserves to be praised for his balanced, yet forward-looking, Budget. It will take some time to appreciate Pranab Mukherjee’s tightrope walk in the context of the global recession. The Budget is growth-oriented and still keeps its focus on the aam admi. It focuses on the growth momentum vis-à-vis sizable allocations to social, agricultural, infrastructural, education and health sectors. Hopefully, India’s economic activities — including employment generation — will get the stimulus they need.

— K.G. Menon

Pune

Hopes dashed

• In the great commotion caused by the presentation of the Union Budget every year, a side-story often overlooked is the relation between the Budget and MBA students. Just like the market, industry, academics and the media, the Union Budget captivates MBA students since their prospects for placement and well-paying jobs depend on it to quite an extent. With the global markets down, this year, more than in any other in recent memory, MBA students impatiently awaited the FM’s presentation. Unfortunately, they have little cause for celebration post-Budget.

... contd.