The finance minister's acknowledgement that spending on infrastructure spend was inadequate is greatly welcome.
The Budget has given a push to infrastructure and the huge expenditure planned is a welcome move for the sector..
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The promise to create and deepen the debt bond market in India so private sector can raise long term money is a step in the right direction, and addresses a long felt unfulfilled need.
A Bill to help settle disputes, the amendments to the Arbitration Act and the Procurement Law,will go a long way in making Contracting robust.
Recognising and taking on the sovereign risk on PPP concessions, where the risks were earlier cast upon the private sector is a step in the right direction.
India continues to very highly taxed, after taking all applicable taxes it works out to be 46%. The first step to reduce this has started, by reducing corporate tax in the coming year.
Lending sector reforms have also been initiated by creating a monetary policy committee in the RBI and starting a separate debt management agency will aid in bringing financial sector reforms.
Overall a good budget and in the right direction, no big bang announcements, however, outcome will depend on its implementation according to schedule.
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