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Sensible, but won't meet inflated expectations: Nick Paulson-Ellis

Business Standard 

Nick Paulson-Ellis

The Budget is pragmatic and mature, given the formidable constraints faced. While it is lacking in major policy announcements, it lays out a road map for reforms and policy priorities.

The focus on and is a positive for public investment. It is investor-friendly, considering it has also signalled an improvement in tax administration and credible banking sector recapitalisation. Disappointments are optimistic revenue estimates; no timeline for the roll-out of GST; no clear road map for subsidy reduction, and a vague view on retrospective taxation Nick Paulson-Ellis Head - Emerging Markets, Espirito Santo Securities

First Published: Fri, July 11 2014. 00:08 IST