The budget presented by Pranab Mukherji is frustratingly dismal. 

The fiscal deficit pegged at 5.1% will have ruinous effect on the economy. The measures proposed by the finance minister to gap part of it are bound to impoverish the common people. The income tax limit at Rs.2 lakh is ridiculous in the face of uncontrolled inflation and unaccounted-black money supply into market. Increase in service & excise taxes is irrational.  Rather than curbing misspending on political agendas the Government has chosen to crush the people under burden of taxes. He has further hinted at cutting subsidies on diesel, petrol and LPG. The most effective way to curb the deficit is to put an end to reckless loan-waiving, free distribution of computers, tablets, laptops, gold chains and unproductive allowances like unemployment and old age pensions. We saw that, how  the S.P. in U.P and the DMK & the AIDMK made promises to the people to offer freebies  for votes.

The  Finance minister who unscrupulously waived bank loans to the tune of 60,000 crores or even more in the UPA-I must be made accountable to pay for the wastage; a glaring example of burgeoning  fiscal deficit. The govt. expenditure has never been checked and extravagance by government departments towards the closure of the financial year has acquired a routine exercise popularly known as March-loot. Corruption in politics and administration is another area which if controlled will certainly curtail the deficit to a manageable limit. And the last but not the least bringing back lakhs of rupees of black money stashed in Europe, Mauritius and elsewhere will be enough to turn India into a developed country.