Prof. J.D. Agarwal, Chairman, Indian Institute of Finance has welcomed the Finance Minister's proposal to make necessary changes in the turnover tax. He feels that this help remove the dampening of stock markets as was feared earlier.

Prof. Agarwal has also welcomed the Finance Minister's concerns about monsoon and its impact on agriculture and his proposals to free agriculture from the vagaries of monsoons by strengthening the ancient and well-practiced water harvesting systems existing in India. He reiterated that the agriculture contributes a major portion of GDP and more than 70% of people earn their livelihood from agriculture. It is necessary that India to pay utmost attention to the development of agriculture and rural areas so that the Indian economy does not suffer from vagaries of the nature.