Budget 2012: Liked Pranab's views on subsidies, says Future Cap

By V Vaidyanathan, Vice Chairman & MD, Future Capital Holdings

Raising excise and service tax to 12% is on expected lines and is welcome for fixing our fiscal problem. Equally the expectation of economic growth is reasonable at 7.6%. I think a highlight was capping subsidies at 2% with a promise to bring it down, as this will bring discipline even under pressures for populism in future budgets.
Increase of customs duties on import of gold is welcome