India Insight

Budget 2014: Reactions from the common man

July 10, 2014

Security personnel stand guard near sacks containing the papers of the federal budget for the 2014/15 fiscal year, at the parliament in New Delhi July 10, 2014. REUTERS/Adnan AbidiPrime Minister Narendra Modi’s new government on Thursday unveiled a first budget of structural reforms that seek to revive growth, while spurning the temptation to resort to higher borrowing.

(Click here for Budget 2014 highlights)

India Insight spoke to people in New Delhi’s central business district for their thoughts on the budget:

ASHISH SHARMA, 36, regional manager, Bharti AXA

“Decision to increase FDI in insurance is welcome. This means that more expertise will come into the sector, which is good for general insurance.”

SWATI, 26, media professional

“The decision to introduce a curriculum on gender is a much needed move because children need to be educated about gender from a very early age.”

VIJAY KUMAR, manager, consulting firm

“The tax exemption limit (for individuals below 60 years) is not enough. It should be increased to at least 300,000 rupees.”

HARISH BAIDYA, 40, government employee

“Tax exemption limit has to be at least 500,000 rupees. Just 250,000 rupees is not fair to low-income employees as they don’t earn enough to pay taxes. Those who earn less than 500,000 rupees should be exempted.”

C.P. KALRA, 45, deputy manager, finance at a PSU

“Many more IITs and IIMs should be set up. The government keeps talking about primary education for everyone. The same thing should be said of professional institutes as well.”

GAURAV, 38, area manager, Deutsche Bank

“It’s a good move to introduce more IITs. There should be IITs, IIMs and institutes like AIIMs in every major city, which will definitely boost the level of education. Sanitation should be counted as basic amenities and every household should definitely have toilets. It’s a good thing that they are working to achieve this.”

VISHAL, 38, sales manager

“The excise duty increase in cigarettes would make no difference to someone like me, who has been smoking since the time when a cigarette stick cost 2 rupees.”

ANURAG SINGH, 39, general manager, Ingram Micro

“The increase in tax exemption and PPF savings is a very good move and it shows that Modi’s government is moving in the right direction.”

PRATEEK SINGH, 29, consultant

“Setting up sports academies is a good move. We need better facilities for our sportsmen and sportswomen. But something like this would show results only after 10-12 years, so the government needs to keep a continuing focus.”

(Reporting by Arnika Thakur; Compiled by David Lalmalsawma; Editing by Tony Tharakan; This article is website-exclusive and cannot be reproduced without permission)

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