It is a tall order and a severe challenge, even without constraints. Inspite, perhaps because, of these constraints Mr. Sinha s budget meets this challenges head on. It also promotes advances in information technology by reducing duties on computer parts, telecommunication equipment, telecom software and floppy disks. Domestic industry will emerge stronger now and will be able to compete in the global market. By raising public investments especially for infrastructure, it corrects the fallacious World Bank ideology promoted policies.
Public investment spurs private industry demand.
The emphasis on agriculture, rural development and housing is a direct response to its national agenda s commitment. Housing is a leading economic indicator since it initiates further investments. It supports rural India and its priorities. That is why I called it a good Budget, a Budget I would commend as the best possible under the current circumstances. It makes no tall claims, but it is realistic, reasonable and takes all the key issues into consideration.