DNA jury split over Union Budget

DNA’s 10-member jury was vertically split following the Union Budget. While some gave the thumbs up to Pranab Mukherjee for not going overly aggressive on the fiscal deficit target, others said the lack of bold moves was a big disappointment. He scored a maximum of 7 on the infrastructure agenda, and the lowest for impact on stock market sentiment and ability to address inflation. Here's what they said:

Kumar M BirlaChairman, Aditya Birla GroupThe finance minister has tried to steer the economy on to a higher growth trajectory, and steps have been taken to mitigate supply-side bottlenecks. Fiscal consolidation and resource mobilisation moves are well thought out.

Deepak ParekhChaiman, HDFCT he FM deserves kudosfor delivering an honest assessment of the current environment and presenting a Budget based on realistic assumptions. He has not been  overly aggressive  on  the fiscal  deficit target or disinvestment. He has managed to balance various conflicting goals

Rajeev GuptaVeteran M&A and Investment BankerYet another failure to assert leadership and seize the opportunity to enhance the economic future of our countrymen. What did we get? Palliatives, short-termism, shibboleths, bad math and worst populism.

GVK Reddy Chaiman, GVK GroupThis is a balanced Budget in challenging times. It is positive, broad-based and inclusive. It emphasises agriculture and industry, which is integral to support India's development ambitions in the long term. Overall, it is growth-oriented and aimed at sustaining earlier impetus.

Adi GodrejChairman, Godrej GroupThe Budget has some positives like maximum of 2% subsidy to GDP and skill incentive for manufacturing companies. Negatives are the retrospective amendment to override the Vodafone judgement and excise duty hikes.

Venkatraman Balakrishnan Chief Financial Officer, InfosysThere is enough indication in the Budget about the desire to contain fiscal deficit, which is a good sign. The focus on increased private participation in infrastructure projects is also salutary. The key is going to be implementing all the projects in time.

Roopa KudvaMD & CEO, CrisilThe steps to improve access to funds and reduce borrowing costs will boost infra investments. But the subsidy targets can be achieved only if bold expenditure reforms such as petroleum price deregulation are undertaken.

Punita K SinhaManaging Partner, Pacific Paradigm AdvisorsT he Budget did no damage to the broad economy, provides some positive stimulus, but fails on bold moves that would entice foreign investors. Overall, it is a sector-specific effort, cautious, and does not alter the government's political position.

Devina MehraChief Global Strategist, First GlobalThe trick in evaluating the Budget is to consider the long-term trends. It is here that this government scores. The missing link is monetary policy where excessive tightening has hurt growth and fiscal balances.

Pradip ShahChairman, IndAsia Fund AdvisorsThis is a Budget for political survival, with no roadmap for doing away with fuel and fertiliser subsidies, and relies on growth from existing economic momentum. His objective of demand-driven growth is contradicted by the raft of duty hikes.

Here are the ratings: