The Finance Minister Pranab Mukherjee is no imposter like his precedessor. But he, without soft options today, shackled by the recent past of Finance Ministry stewardship, has proposed a Budget 2010-11 which has failed to address the core issues of reducing public debt, curb the dangerously high fiscal deficit[ even the claimed target for 2010-11 of 5.5 per cent is too high, and will represent a huge diversion of funds with public sector banks away from private sector investment], and introduce innovation into the ailing industries such as Textiles, Food Processing, Power Generation and Distribution. Hence, despite his heroic effort to put together a promising Budget, he has at best produced a damp squib for financial reforms..
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