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An attempt has been made and some measures have been announced to this end. The fiscal deficit, for one, has been reined in. But then again, how the economy will fare will depend on the ground-level execution of the schemes. In this regard, I must mention two key schemes. One, special emphasis has been laid on the youth through training centres for unskilled youth plus a pay of Rs 10,000. Another thing that caught my attention was an allocation of Rs 1,000 crore as initial capital to start the first all-women bank. As for the the apparel industry, we understand that the excise duty on branded apparel has been abolished and that will be a huge relief to the industry, which is currently facing cost pressures. This will also imply reduction in prices for the end-consumer.
Is this a populist, please-all budget?
While the Budget tried to satisfy all to some extent, I don't think it is a very populist Budget.
Will it help the economy, create jobs, restart stalled projects?
While I'm uncertain whether the Budget will restart delayed and stalled projects, the schemes that I previously mentioned will benefit women and the youth by creating more jobs for them. Training the youth, especially, should create an estimated 10 lakh jobs.
Will the budget proposals help UPA win votes in the general elections?
I cannot comment on this subject. Winning elections involves a lot of measures and the Budget is only a small part of the entire game.
Anita Dongre, Fashion Designer
