Expectations were riding high; disinvestment was the panacea for deliverance and market reforms, the way forward

The Union Budget can be best consolidated in one word – sustainable growth. The budget addresses bottlenecks that impede investment and focusing on infrastructure and the farm and rural sector as growth accelerators for crystallising  per cent agriculture and 9per cent  industry growth.

By increasing the fiscal deficit target to 6.8 per cent for FY10 and subsidy outlay by 10 per cent over the interim budget, the government has sent out a strong signal that it will spend.

By increasing the allocation on the government's flagship programmes like Bharat Nirman by 45 per cent  and NREGA by a whopping Rs39,100 crores, a 144 per cent increase, the government has underscored its commitment to ''inclusive growth''.

With removal of surcharge on personal income, rationalisation of FBT, significant employment generation opportunities in agriculture, rural and infrastructure – there will be considerable, disposable income capacity for stimulating consumption which will further augment the economic momentum.

Overall, full marks for a comprehensive and highly practical budget which will in all probability be able to generate multiple forces with allocations and actions percolating to the economic touch points. A real winnerunder the circumstances!