A sincere attempt was made to meet the expectation of delivering a Budget for 2015-16 with growth orientation blended with fiscal prudence. It is comforting to see the print of fiscal deficit of 4.1% and 3.9% for 2014-15 and 2015-16, respectively, with a clear road map to achieve 3% over 3 years. There are several laudable initiatives: Implementation of GST by April 2016, intention to reduce corporate taxes to 25% over 4 years, deferral of GAAR by 2 years with prospective application, abolition of wealth tax, cutting subsidy leakages, measures to curb black money, etc.

Source - http://www.financialexpress.com