Hey BUD! did you GET it? HOPE - The Art of Giving without Giving.

Image Credit: http://budget2014.co.in/

Did anyone get it for that matter - I mean was the budget good or bad? Pro or anti people? Did it give or not give anything to anyone at all?

I was right to the point that it will be a boring one that will leave everyone wondering why was it presented in the first place. The market echoed its mood by swinging up and down like possessed by some demon. Partly exorcised by experts after the budget speech there was realization that one would have to read the fine lines before reading debt as death and switch from spitting to smoking in an attempt to pollute the environment and commit suicide at the same time.

This morning (11th July), my mail(e)box was bombarded with the slice and dice of the budget from as many sources as I can count on my fingers and toes. Verdict great for India, good for industry, fair for the middle and lower class and bad for those in between them and the HNWI and above classes. Now WTF does that mean?

Clearly it was a Pro India budget and the signal was sent  to the world that India is open to accepting money for growth and infrastructure from overseas. Naturally, there isn't enough within the Country for the super billion dollar projects. Announcing token allocations to several social projects the message was very clear - big money for bigger project just ain't there; and the government is unwilling to borrow for them either. The latter is a very good sign as it means seriousness in curtailing deficit. Further if large projects were developed under PPP model (Public Private Partnership) then better the chances of the projects seeing light of day in the expected time and costs. There was criticism on a substantial allocation for building a statue of "Sardar Patel" in Gujarat. Yes money could always go to a more productive use; but Patel is the unsung hero of United India. If Bapu Gandhi is the father of India then Patel is its soul and honoring his memory is in a way Modi saluting his and India's mentor.

To make money flows in, the government has made the right noise that while it promises not to mess around with investors' happiness, it will keep that right reserved just in case. The latter made sure that even the insignificant opposition along with the significant bureaucracy does not have any reason to scream and shout or the government get itself labeled as a "sellout" to the now forgotten "foreign hand". With virtually every State getting a share of social projects irrespective which political party ruled it; Modi's team were out to send a message to the people of India that matter and it does not matter which State they hail from or which party governs them.

Industry by and large is quite happy particularly auto, real estate, financial and banking sectors even happier. Implementation of a uniform Goods and Services Tax (GST), permitting REITS, cuts in excise, ease of norms to raise money in India and overseas and what not will in time allow industry to prosper and operate in an environment of greater transparency and lesser harassment. Growth of the small and medium sector is as or more important in India for creation of jobs. There were a few unhappy industries but in the scheme of things they had bad days coming. The "Jawan" (Soldier) and "Kissan" (Farmer) got their "Jai"s (Salute) too from the Finance Minister and his Boss with a slew of initiatives for them. Notably on the fronts of pensions for the soldiers and insulation against bad harvests for farmers.

The lower and middle class constituting the vast majority were compensated for the rising prices (driven by removal of subsidies largely) by modest tax cuts linked with either saving up for the rainy day or investing in growth. It wasn't much but then every penny saved at that income level means a lot as opposed to the ones that live in the clouds in India. Officially there are about 500,000 High and Ultra High Net Worth families (My Guess 5,000,000 at least) of which only 10% really end up paying taxes in excess of Rs. 1 million. The Budget has just left this lot alone and rightly so for logical reasons.

It was labeled as the Budget of Hope and that's exactly what it delivered. No promises but a possibility that if all goes as per plan then the good days promised will hopefully come. In a way it gave a lot without giving anything and I think that's exactly what one can hope for now if the Nation wants to repair itself and prepare itself for the next decade. Now Bud! do you Get it?