Faced with stiff resistance from its coalition partners and the brouhaha over the Rail Budget, Finance Minister Pranab Mukherjee failed to present a Budget that would benefit the common man. It was expected that the government would break away from the shackles of its coalition partners and present a populist Budget but it proved to be a damp squib. Apparently the motive of the government seems to stick to power. The Finance Minister could have shown some courage and taken concrete decisions on economic reforms but he chose to look the other way. It’s an irony that the Rail Minister in spite of being under immense pressure from his party produced a Budget that could be termed satisfactory but Pranab Mukherjee even failed to do that. The Union Budget will neither benefit the common man nor the Central Government which is struggling hard to refurbish its image. The only thing that can be termed as positive in the Budget is steps taken in the field of agriculture which has been a neglected sector for very long. Amidst the volatile economic condition the government will have to face the consequences of a weak Budget.

Though the Finance Minister in his Budget has made some announcements that may appeal to the people but the fact remains that the Budget has sought more from the common man than giving them something. Similar to that of the Rail Budget where one had presumed a hike in Rail passenger fares, it was believed that the Union Budget will not provide any big relief to the people. Neither could the government take concrete decisions on subsidy cuts nor could it do anything in checking the fiscal deficit. Now it’s understood that inflation will touch new heights. Without making any tangible announcements in the Budget how can the government hope to maintain a growth rate of 7 percent and keep a check on inflation, fiscal deficit? There are enough evidences to prove that the government has not paid heed to the economic survey before announcing the Budget.