This has been a typical pre-election Budget. There have been bounties galore for small farmers, tax restructuring for the middle class and marginal incentives for some of the deserving industries.
In an economy with strong inflationary tendencies, a lot more could have been done on the supply side. These measures will leave some monies with some sections of the people and could be stoking inflation.
For the IT Industry, the Budget has been disappointing. When confronted with adversities like rising rupee, economic slowdown and talent retention issues , the industry was looking at the least for continuation of Section 10A benefits in some modified form and moderation of FBT on ESOPs etc.
The denial will make the industry, more particularly the SMEs open to significant market challenges.
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