Last month's violent agitation by the Jats saw the destruction and looting of properties, the blockade of key highways and railway tracks and the alleged rape and molestation of women

Letters: Courts as the only hope

Business Standard

On the 150th anniversary of the Allahabad High Court, its chief justice quoted Nobel laureate Amartya Sen's theory of justice

Letters: Remove injustices first

In India we have reason to be scared when nuclear reactors are frequently shut down, repaired and switched on

Letters: Nuclear power is risky

Sarraf said he had no comments to offer because the matter was under the consideration of the A P Shah Committee

A backhanded compliment

Lok Sabha member Ch Malla Reddy wanted to know if the government had examined the suggestions to provide buttermilk as part of the Mid Day Meal Scheme to school students

Buttermilk challenge

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Budget and impact: Mixed market signals

Nifty fell in post-budget trade but some stocks were up. EY analyses their performance

Challenging fiscal arithmetic: Devendra Pant

The reaction from bond and currency markets to the Budget was very positive: bond prices surged, yields fell and currency appreciated

NHAI to raise Rs 15,000 crore through bondsNational Highways Authority of India (NHAI) will raise Rs 15,000 crore through bonds in 2016-17. This will add to the government's efforts to boost roads and highways capacity in line with the rapid rise in road construction. India's highest-ever kilometerage of new highways were awarded in 2015.Total infrastructure outlay stands at Rs 2.2 lakh croreThe outlay for the infrastructure sector in 2016-17 is  Rs 221,000 crore. This includes Rs 218,000 crore of outlay for the roads and the railways sectors put together. More than 10,000 km of new highways will be awarded in 2016-17. Also, more than 50,000 km of state highways will be taken up for upgradation.Rural jobs scheme gets Rs 38,500 croreA sum of Rs 38,500 crore has been allocated for Mahatma Gandhi National Rural Employment Guarantee Scheme in 2016-17. Under the scheme, cluster facilitation teams will be set up to ensure water conservation and natural resource management, to tackle issues o

Budget Nuts & Bolts

A road map for lowering of corporate tax rateAs part of the plan to reduce corporate tax from 30 per cent to 25 per cent: Accelerated depreciation will be limited to 40 per cent from April 1, 2017; deductions for research to 100 per cent from April 1, 2020; Section 10AA for new SEZ units will be available to units that start activity by March 31, 2020.Reduced corporate tax for new manufacturersNew manufacturing companies incorporated on or after March 1, 2016, are to be given an option to be taxed at 25 per cent plus surcharge and cess, provided they do not claim profit-linked or investment-linked deductions and do not avail of investment allowance and accelerated depreciation.Incentives for setting up of start-upsTo encourage start-ups, 100 per cent deduction of profits for three out of five years will be allowed for units set up over April 2016-March 2019. But, MAT will apply. Capital gains will not be taxed if invested in notified 'fund of funds' and by individuals in start-ups in w

Budget in 2 minutes

Tarun Tahiliani

What is the best thing about the Budget?It is fiscally responsible in a very difficult environmentThe worst?There is a lot of micro-level tinkering involved and faint elaboration on the issue of bank recapitalisationWill it lead to acchhe din for the common man?The rural and infrastructure reforms and their chain of events will eventually help the common manWill BJP gain politically from the Budget?Its impact needs to be seen over a period of time before hazarding a guess. But, I can say that politics is economicsIf you were finance minister, what would you change?I would have addressed the GST Bill and made some tangible announcements that would re-affirm the government's commitment to the liberalisation processTarun Tahilianifashion designer

My Budget: Tarun Tahiliani

Sam Ghosh

For the govt's Make in India initiative, support to small sector enterprises in the form of robust programmes for providing skilled manpower will be a big boost

Sticking to its priorities: Sam Ghosh

S Naren

The announcement on operationalising the Banks Board Bureau to streamline public-sector banks will further help the banking system

It is a big enough boost for banks: S Naren

Missing out on faster growth: N R Bhanumurthy

N R Bhanumurthy

The Budget attempts to strike a balance between growth by boosting infrastructure investments and development through increases in allocations to agriculture and rural development. While it looks like a fine balance, it perhaps missed the opportunity of achieving a 8 to 10 per cent potential growth - as suggested by the Economic Survey - in the medium term. To achieve this, one should have increased public investments this year itself. But what we really see is a decline in public investment from 1.4 per cent to 1.3 per cent (as a ratio to GDP).This is expected to increase to 2.4 per cent in 2017-18 and 3 per cent in 2018-19, which could be a difficult proposition. This Budget has clearly focused more on agriculture and rural India. This could create additional demand that is required for reviving growth. Based on the gaps between the budgeted and revised numbers for 2015-16, one can clearly say that the government had mis-judged the role that existing rural development programmes, say

Aditi Nayar

The Budget has crucially reinforced the government's commitment to fiscal consolidation. It did not deviate from the fiscal deficit target of 3.9 per cent in the Budget Estimate for 2015-16, despite lower-than-expected gross domestic product, or GDP, growth and a substantial shortfall in disinvestment inflows and direct tax revenues.Despite additional outgo on account of higher pay, the Budget stuck to the previously announced fiscal deficit target of 3.5 per cent. This would dampen bond yields and improve the likelihood of monetary easing, although we expect it to be restricted to 25 bps in 2016.The growth projections for tax revenues in the Budget appear realistic. The estimates for proceeds from disinvestment and spectrum sales, though, may prove optimistic. At the same time, increased allocations for the rural and infrastructure sectors are likely to support economic growth. A healthy 12 per cent rise in resources to be transferred to the states in 2016-17 is a positive, although i

Room for monetary easing: Aditi Nayar

Prasad Bidapa

What is the best thing about the Budget?Fiscal deficit being contained at 3.5 per cent is a great achievement. Ease of doing business and dispute resolution is a welcome step. Food security is a good reform for children.The worst?There are too many new cesses and not enough provision for OROP and the Finance Commission impact.Will it lead to acchhe din for the common man? Corporate taxes not reduced and no benefit for aam aadmi.Will BJP gain politically from the budget?With a larger focus on providing rural reform, there seems to be some impact of Rahul Gandhi's "suit-boot ki sarkar" comment.If you were finance minister, what would you change?The government's performance record is not impressive so far. But, I am hoping for the best.Prasad Bidapafashion consultant

My Budget: Prasad Bidapa

There are upsides for steel: TV Narendran

TV Narendran

Union Finance Minister, Arun Jaitley, has tried to do a balancing act between fiscal consolidation and growth in the midst of global headwinds.The Budget focuses on policy and taxation reforms, and reflects the government's commitment to improving the ease of doing business in India. The emphasis on tax reforms and dispute resolution schemes should go a long way in creating a facilitating environment for conducting business in India.We are the world's third largest producer of crude steel (up from eighth in 2003) and the world's third largest consumer of finished steel. This sector should get a big boost from the proposed spending in infrastructure; the Budget proposals will help the industry reach its full potential.However, doubling of the clean energy cess from Rs 200 to Rs 400 a tonne would increase input costs for domestic producers. We are hopeful the government will focus on the goods and services tax (GST) Bill and include the suggestions made by the Central Electricity Authori

Sorabh Pant

What is the best thing about the Budget?It is pro-farmer and pro-poor. Beedis are cheaper - that's hardcore implementation of Make in India.The worst?The Budget was called "unimaginative". So, do people want tax rebates for dragons? The worst part is how everyone becomes a financial expert.Will it lead to acchhe din for the common man?Driving a car, drinking and smoking will cost more. So, next time Salman Khan does all that in one night, it may cost him dear.Will BJP gain politically from the Budget? This one should get BJP more votes at assembly elections.If you were finance minister, what would you change?I'd remove all taxes and subsidies, and implement all our country's projects by borrowing a few bucks from Robert Vadra.Sorabh Pantstand-up comedian, founder of East India Comedy

My Budget: Sorabh Pant

Madan Sabnavis

The approach to bank restructuring has been quite ambiguous though

A mixed bag at best: Madan Sabnavis

Major push for financial reforms: Rashesh Shah

Says FM has provided much-needed tax incentives for new manufacturing companies and reforms for start-ups

Leaves a lot to be desired: Hemant Kanoria

Hemant Kanoria

This is the first Budget in decades that has rightly given an implementation-based thrust to agriculture and rural segments. However, I am not enthused with the announcements on infrastructure. The proposals to introduce a Bill on dispute resolution, to form new guidelines for re-negotiation of public private partnership concession agreements and to have a new credit-rating system for infrastructure projects are steps in the right direction, but an immediate time-frame for implementation should have been articulated. The additional dividend distribution tax, trebling of securities transaction tax for options, the introduction of new cesses in certain categories are unlikely to go down well with industry. Determination of residency of foreign company on the basis of place of effective management stands deferred by one year, while general anti-avoidance rules are to be made effective from FY18. These steps might not send out the right signals to international investors. Allowing non-bank

Indirect boost for consumer goods: Harsh Mariwala

Harsh Mariwala

Overall, the Budget is positive. Among the big standouts for me is the finance minister's announcement that he will stick to the government's existing fiscal deficit target of 3.9 per cent of gross domestic products for 2016-17.It speaks of fiscal discipline on the part of the government, which is a welcome move.The other highlight is the big push for the agriculture and road sectors. A realisation that the rural economy has suffered in the past two years because of a deficit monsoon is noteworthy. Also, infrastructure development is being seen as critical to improving economic growth.The measures announced to boost growth in the agriculture and infrastructure sectors will impact all companies operating in this space, including consumer goods. Yes, the finance minister was silent on the goods and services tax.There were expectations that he would say something on the issue or announce a clear road map pertaining to its roll-out. However, given that much has already been said about good

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