As expected, this has been an election Budget and the Finance Minister has played it to the gallery therefore, presenting a safe Budget. There have been some positive proposals, especially in areas of personal taxation and agriculture. In fact, agriculture has been given a thumbs-up especially with the loan waiver. This seems to be a social welfare call taken by Chidambaram. However, I don't see this Budget doing enough to control inflation. Also, the tax on Asset Management Companies (AMCs) on investment via ULIP will hurt the salaried class investor. Overall, this has been a popular Budget with some good short-term proposals.
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