My Budget: Nikhil Chinapa

Says the Budget seems to be favourable to the middle-class

Has Finance Minister P Chidambaram steered the economy out of the woods?
Not yet, he hasn't. He is continuing with the developmental trend and has focused on infrastructure, roads, power, coal and foodgrain. But the challenge here is implementation.

Is this a populist, please-all budget?
It's not but it doesn't push dramatic reforms either. There's not much drama, hope or horror here. At a glance, it is focused on helping the economy sail through its bad phase. Barring some concrete steps in the real estate sector, the Budget seems to be favourable to the middle-class –" it has not been further burdened by additional taxes.

Will it help the economy, create jobs, restart stalled projects?
Difficult to say. Yes, the Budget is aimed at bettering the infrastructure, improving power problems, reducing food grain shortages and price rise. However, I'm not sure how it will help stalled projects because the reasons for project delays may not necessarily be lack of funds. In several cases projects are stalled due to scams and corruption. On this front, there's a need to change the execution systems rather than simply allocate funds.

I think we've already thrown away too much of the public's money.

Will it help UPA win votes in the general elections?
It depends on how the government's implementation. It now has less than a year to walk its talk and show that it means business. The public is weary of corruption and rampant price rise. Controlling both and being proactive will be the government's greatest challenge.

Nikhil Chinapa,
Disc Jockey; Director, Submerge