Prof. J.D. Agarwal, Chairman, Indian Institute of Finance has welcomed and appreciated the announcements made in the Budget.

He has welcomed the imposing of education cess in order to promote literacy and basic education. According to him, it is a common man's budget which is growth oriented and focus on agriculture, rural development, basic education, health and infrastructure is remarkable. However Prof. Agarwal apprehends as to what extend the budget estimates with regards to budgetary allocations and revenue realisations would be achieved in a short span of 7 months available in the current financial year.

Prof. Agarwal feels that raising of FDI Limit in some of the areas like civil aviation, insurance and telecom are the need of the hour. Prof. Agarwal has also welcomed the raising of exemption limit to Rs. 1,00,000/- and keeping the interest rates on small saving schemes such as PPF, GPF and special deposit schemes unchanged.

The budget will give boost to industry and bring about the desired result if implemented effectively. According to him, life of the common man would be better than before.