There has been hue and cry over the budget in the past, and this time it was no different, where economists have already talked about the pros and cons of the Union Budget 2014-15. But, one has to remember that it is not the type of budget, which holds importance - whether it is a leftist Budget or a rightist, rather its implementation is what matters the most.
Arun Jaitley, the Finance Minister
presented a budget, and people as well as the market showed mixed response to the budget. However, if inflation continues with
rise in the price of essential commodities due to failure of the
monsoons, etc. or there would be number of scams, then people and the
market would react differently in a negative manner and both Sensex
and Nifty would fall.
So, to be effective, the black money needs to be recovered back,
checking of the tax evasion and strict implementation of the budget
measures. There also has to be disinvestment in a big way.
So, the Government has to be very cautious and take essential
steps to recover the black money, conduct raids to check tax evasion
as well as hoarding and ensure that all provisions of the budget are
Even if populist measures are taken, it has to be ensured that the
benefit reaches the right people and the money meant for the
beneficiaries for example, the Kashmiri Pandits are not cornered by
corrupt babus and politicians.