It's positive for reforms and man in the street

Mr. Kumar Mangalam Birla

The most positive feature of the budget is that reforms remain on track. Populist policies have not been introduced at the cost of destabilising the fiscal position.

The second positive feature is the sharp accent on the agricultural sector. A definite goal has been articulated: of diversifying India's farm output away from foodgrains into value added products.

Another positive feature is the social equity the budget seeks to foster. Universal access to quality education, basic health care, provision of midday meals and nationwide water-harvesting scheme — all these will undoubtedly better the lives of the unprivileged. It will also help us reach the UN Millennium goal of halving poverty earlier than the next decade.

On corporate tax, while incentivising R&D in auto sector is welcome, this should logically have been extended to all industries. The budget succeeds in terms of articulating a vision. More could have been done, though, to stoke growth in the industrial sector: However, hopefully, the forthcoming trade policy and the next budget will address much of what is missing.

Overall, a positive budget. The FM has accomplished quite a bit despite many constraints.

Rating: 8/10

At 36 , Kumar Mangalam Birla is India's youngest billionaire. He heads the Aditya Birla Group, one of India's three largest business houses.