While waiting for the finance minister (FM) to start his Budget speech, I kept reminding myself not to expect too much. My only expectation was it should not be a kacha (please-all) budget. It is not supposed to be a single pill for all our problems.
The Budget addressed all sectors, sections and regions. Like the thali (platter), no one item dominated and different tastes were there.
The six most satisfying parts are: One, the thrust on creating smart cities. The developed world has an urbanisation of more than 50 per cent, China is at 50 per cent and India at 33 per cent. Gross domestic product growth is closely related to urbanisation, so smart cities would sustain India's growth. Two, the financial inclusion of all households in the banking system. Three, the focus on developing infrastructure. Four, linking the Mahatma Gandhi National Rural Employment Gurantee Scheme to asset-creation. Five, the focus on rural areas, Jammu & Kashmir and the Northeast. Six, not forgetting our armed forces. Let us not question if this is the right Budget. Instead, let us act to make the budget right.
Executive Vice-Chairman, Essar Steel India