Economist Suvrokamal Dutta says the positives were unexpected
Economist Suvrokamal Dutta says the positivesu00a0were unexpected
By reducing custom duty on gadgets like MP3 players, mobile phones and LCD TVs, the government has done the unexpected. The special concession to export-oriented industries was long awaited. Another welcome move was in the field of education.
The proposal to allocate over Rs 21 billion for the Indian Institutes of Technology (IITs) and the National Institutes of Technology (NITs) will reduce the interest rates on education loans.
However, not much has been done to reduce airfare because it was not possible to offer discounts in these difficult economic times. One had also expected the government to levy more duty on foreign liquor, but it didn't happen. Service tax should have been abolished, as it would have led to an increase in the number of people eating out. Instead, the government provided concession to the hospitality industry.
(As told to Shashank Shekhar)
