Good news is that there’s no bad news

Budget 2012-13 reflects the pragmatism of the man who presented it. You will need to appreciate the tough macroeconomic background and political instability in which this Budget has been presented. No one expected big bang reforms given the political constraints. The finance minister has done well given the cards that have been dealt to him. The arithmetic behind the Budget looks more credible than last year. There is focus in controlling revenue deficit.