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How realistic are these numbers? Widespread scepticism has been expressed, which I share. To turn to taxes: As leader of the Opposition, Arun Jaitley had demanded that the IT exemption limit be raised to Rs 5 lakh, which he has not been able to fulfil as finance minister. 50 lakh has disappointed people across the country. The average taxpayer will save Rs 416 a month—which won’t even cover the increased price of tomatoes, onions and milk for a family of four. 9 per cent ), no increase in tax rates and cuts in excise and customs duties.

I am sorry to say there are grounds for disappointment as we analyse the Budget with each of these four questions in mind. What does the aam aadmi look for in the Budget? At a personal level, more income and a lower cost of living; at the macro level, policies that will create growth and job opportunities, reduce prices, widen his life prospects. India needs an economy which is efficient, competitive and, in an era of growing inequality, also humane. In his Rajya Sabha speech on the UPA’s Budget in 2012, Mr Jaitley declared that the Budget should help ‘increase the width and volume of economic activity’.

Widespread scepticism has been expressed, which I share. To turn to taxes: As leader of the Opposition, Arun Jaitley had demanded that the IT exemption limit be raised to Rs 5 lakh, which he has not been able to fulfil as finance minister. 50 lakh has disappointed people across the country. The average taxpayer will save Rs 416 a month—which won’t even cover the increased price of tomatoes, onions and milk for a family of four. 9 per cent ), no increase in tax rates and cuts in excise and customs duties.

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