Mixed Signals Fail To Boost Confidence

Every year the Union Budget comes with a lot of hopes for people cutting across social spectrum. But this year’s budget has significantly failed to gain the confidence of the people at a time when the economy is already going through a slump. Despite its attempt to boost the spirit, few convincing announcements to revive the economy, unfortunately dampened the spirit of the citizens. Certainly Budget FY21 was not a transformational one, but it has the undertone to revive the health of the economy. The more than two-and-a-half-hour-long budget speech by Finance Minister, Nirmala Sitharaman made the Sensex fall by 1,000 points causing investors lose Rs3.5 lakh crore. The overarching takeaways from the budget were income tax sops given to the middle class and several projects targeted at reviving farm sector of the country. At the very outset, the finance minister said, “This...