It is a well thoughtout, unusual & balanced budget focussing on agriculture, rural development & basic needs of the weaker sections of the society feels Prof. J.D. Agarwal, Chairman & Director of Indian Institute of Finance. Finance Minister has tried to please all sections of society using creativity. It is a budget as it ought to be.

According to DR. Agarwa, the Budget-99 is pro-people, agriculture & rural development oriented involving Local & Community resources and adequately providing for much needed social sector activities food, health, Education Shelter & employment.

The Finance Minister has been able to perform a balancing act by maintaining a low level of of fiscal deficit and providing for the various outlined schemes needing urgent attention.

Dr.Agarwal feels that it would be non-inflationary in nature, the Capital Market may show a slight improvment but salaried class would be unhappy.

Dr. Agarwal welcomed the rationalisation of excise and customs duty rate structure.

While welcoming a surcharge on corporate & individual incomes of 10% due to financial conditions of the Govt. Dr.Agarwal feels that in the wake of pay revision minimum exemption limit should have been raised to RS. 60000/- to five relief to the salaried class.

Dr. Agarwal strongly feels that Finance Minister has not taken into consideration some alternate sources of raising revenue to meet the Government obligations to the people as provided in the Budget Infrastructure need have not been adequately taken care of.