While a populist budget can provide immediate relief to the public and short-term boost to the markets, it is not good for the country's long-term economic growth.
While the big ticket investments needed to revive growth have been limited by the need to keep the fiscal deficit roadmap on course, there are major changes in taxation and other areas that are truly reformist.
Umesh Chaudhary, Vice Chairman, Titagarh Wagons is happy that the Railway Minister stayed away from making it a populist Budget.
Chairman of BMR Advisors, Mukesh Butani, spoke to CNBC-YTV18 about what the challenges are for the FM in this Budget 2012 and what the industry can expect.
Speaking to CNBC-TV18, Abhay Laijawala, head of research at Deutsche Equities India says that this is the last time the government can present an economic Budget. “Next year, it will be an election Budget,” he says.