“The initial reaction would be that of a slight disappointment—a prudent budget and would have an impact in quite a few areas, but I believe overall impact would be limited. There were quite a few good ideas, but then in many areas it looked to be more of a tinkering with the status-quo. The focus on rural economy is important, especially in light of global economic situation, as unleashing rural economy has the potential of adding consumption and growth in a significant way. Infrastructure spending—roads and railways—should have some positive impact on overall economy and sentiment. Though there seems to be a reliance on off-budget resources, contribution by state governments, etc., this might mean that execution lags or fiscal targets are compromised. The tax proposals would not make much of a difference to businesses in general, but there were signs that the fine print could spring nasty surprises.” said Mr. Manish Godha, Chief Executive Officer, Advaiya.