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The FM could surely have done more for retail
There are no sops for the corporate sector, but plenty for citizens of the country. For the urban population, an increase in personal income tax exemption limit means more money in hand. This will be a positive trigger for the industry. Sops given to farmers through the loan waiver will be the singlemost important factor driving rural consumption.
The budget doesn't seem very encouraging for the retail sector, which was expecting some movement on reforms. There could have been more concessions for this sector to lead the next wave of economic growth. However, the reduction in cenvat and central sales tax will provide relief.
Increased investments and exemptions for the farm, health and education sector will indirectly help the masses. Increasing allocation for education and setting up 16 central universities, 6,000 schools and three IITs will bring high-quality education within the grasp of hundreds.
For the economy to sustain growth, the availability of trained manpower is critical. The government's thrust on building the skills of the population is a welcome step. This will build a new 'Bharat'.