Union Budget 2010-11: A Reform Oriented Approach

Abstract

Budget 2010 is considered to be a landmark as it significantly the broad agenda on fiscal reforms by introducing the dual goods and services tax (GST) to replace the current multiple mechanism of indirect taxes across central and state levels. This budget has made many people happy with its outcome of tax proposals. The overall theme of the Union Budget for 2010-11 was a shift in fiscal policy from stimulating growth to maintaining the growth momentum while embarking on a renewed path towards fiscal consolidation. A second and more careful reading of the budget documents may very well change the positive feelings that have been generated.