Budget fails to receive any applause?
The detractors of the Finance Minister, P Chidambaram, may have had a field day in holding back their applause for the 2007 Budget in spite of buoyant revenues, much above projections and expectations, rising foreign exchange reserves, record foreign direct investment at $10 billion, high savings rate at 32 pc of the gross domestic product or GDP, record foreign remittances at $23 bn and 9.2 pc annual growth rate- the highest in independent India's history. How is it that even though the world is impressed by what is considered India's near economic miracle has not been adequately appreciated at home?
What has gone wrong? Is it pure politics of the right and left? It would seem so. Even the defenders of the Budget within the ruling party and its allies and outside supporters are somewhat muted in their words of praise.
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