The Finance Minister must be complimented for sticking to the task of fiscal consolidation. More importantly, the Finance Minister did not utilise the escape clause to relax the target. The Finance Minister must also take the credit for resisting the temptation to increase measures to increase consumption. Apart from providing for the announcements made by the Prime Minister, the Finance Minister has refrained from this. As far as personal income goes, the reduction in the tax rate to 5% for individuals up to ₹5 lakh income provides some relief.

Source: The Hindu February 01, 2017 18:45 UTC