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February 28, 2001                                       Feedback  

    - EXIM POLICY '00



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Budget with a human face: Uttar Pradesh CM

BS Bureau

I consider this the most extraordinary Budget I have ever seen in my public life. I consider it the best Budget since independence.

The finance minister has done an excellent job in containing the non-plan expenditure.

At the same time, the fiscal deficit has been reduced to manageable limits. What is the unique feature of the Budget is that it has taken care of both entities-corporate and non-corporate. The salaried class has not been burdened.

This Budget has specially cared for weaker sections of the society-widows, poor students and women. It is a Budget with a human face.

The emphasis on agriculture will give a boost to farmers. I feel that the finance minister's scheme of rural electrification by 2006 will be a very positive development for the agriculture sector.

Similarly, the decision to reduce excise duty on food processing units is also a pro-farmer step. The decision to enhance the customs tariffs is intended to protect our country's farmers who might be facing problems due to the WTO conditionalities. I regard this as the most significant step of the government to protect Indian agriculture.

The Budget's emphasis on power sector reform will benefit the states which are genuinely attempting to correct the malaise in the power sector. As the Chief Minister of UP, I consider my state as a pioneer in power reform. We will certainly get the benefit due to us.

My state will also get the benefit of 1.5 per cent reduction in the saving interest rate. The Budget has taken care of society as a whole.

By the way, I am going to suggest that some Opposition leaders avail of the tax exemption which is given for donation for treatment of mental retardation. That way, at least, they will be able to correct their perspective.

Source: Business Standard

The Budget 2001-2002 Special
The Rediff-Business Standard Budget Special

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