The budget brings out the government’s clear focus on infrastructure and realty. A 10,000 crore start-up fund for new businesses bodes well for budding entrepreneurs from B-schools like ours. Final verdict on GST comes as a relief although the exact roadmap still needs to be clearly laid out. Perhaps the biggest disappointment was the status quo maintained on the issue of retrospective taxes. I would rate the budget a 7/10.

Sagar Sachdev, Indian Institute of Management Calcutta

Unexpectedly, there was no clarity on existing litigations related to retrospective tax, GAAR, etc. Plethora of announcements were made related to development in both urban and rural - roads, broadband connectivity, housing for all by 2022 and infrastructure. Agriculture sector too had its share of initiatives, with an objective to improve the productivity and warehousing technology. Government is adamant to boost the manufacturing sector, which has a multiplying effect on the creation of jobs. As households have been the main contributor to our country's savings, which is necessary for economic growth, the increase in minimum tax slab and 80C limit provides a relief to the common man.

Nagendra Kumar, Indian Institute of Management Calcutta

Signs of market-friendly reforms are clear from the increased FDI limits in Defence and Insurance, lower target of Fiscal Deficit at 3.6%. The new Government's infrastructural ambitions are clearly visible in the allocation to Smart Cities, plans for Industrial cities, Electricity and Sanitation targets. Increased commitment to MNREGA, rural infrastructure is welcome.

The budget provided for slight relief to Individual tax payers with increase in tax exemption and savings limit. The e-commerce sector which has seen a lot of action in the previous months had been expecting opening of FDI in the sector, its omission is disappointing.

Francis Thomas, XLRI Jamshedpur

I am glad that the Government is to print currency notes with #Braille features to aid the visually challenged, that was long overdue. But Rs 50,548 crore have been allotted for SC development and 200 crore for a statue being built! What in the wide world is happening?

Neha Joshi, Institute of Management Technology Ghaziabad

Raising of FDI cap in insurance and defence sector brought cheers but other lacklustre political announcements threatened to take the sheen away. It's not every day that you see Sensex swing over a range of 700 points.

A bit disappointed by the lack of clarity on subsidies and cash transfers as recommended by the Economic Survey. Similarly a more decisive statement about pending litigations in the retrospective tax row would have invigorated the markets further. Also the absence of any big-ticket announcement damped the spirits to some extent.

Kunal Aggarwal, XLRI Jamshedpur

The budget has emphasised heavily on Infrastructural development by proposing 100 smart cities including airport development in tier 1 and tier 2 cities.

The enhancement of the PPF ceiling and the tax bracket starting from Rs. 2.5 Lakhs will be a slight relief to the tax payer. But India was counting heavily on an expected tax relief till Rs. 5 Lakhs and there will be some disappointment in that regard.

Setting up of new IIMs and IITs would not solve the problem but only enhance the issue of lack of quality faculty & resources. This money could have been spent on the existing ones to bring them a notch closer to the likes of Harvard & MIT.

Abhishek Goyal, Indian Institute of Management Kashipur

GST, which the FM 'hopes' to implement in this year, will not only increase the transparency and increase investments but it will also go a long way in reducing the revenue deficit of the country through more collections.

The FM has been generous in allocating funds for overall development (expenditure side) and at the same time in taking tough measure to increase the collections so that the fiscal deficit is not widened.

Bharat Bansal, Indian Institute of Management Kashipur

This budget has focused on developing more distinguished engineers, doctors and managers in India with the proposal of opening new IITs, IIMs, and AIIMSs. However, there is no mention of a panacea to regulate, and improve the quality of knowledge dissemination in existing colleges in our cities that are churning out technically incompetent graduates and postgraduates at an alarming rate. The most promising build-out is the National Skill Development Project, which is to be implemented in the near future, Although the 100 Cr grant each, for setting up Virtual Classrooms and "Beti Bachao, Beti Padhao Yojana" is a progressive step, implementation will hold the key.

Piyush Beriwala, Management Development Institute Gurgaon

With the common man impacted directly through IT relaxations, I definitely see the Budget 2014 as one step closer to 'Ache Din'. Further by announcing initiatives for everything from cleaning the Ganga, to clean energy, to girl child schemes, to expansion of gas grids, to providing urban amenities in rural areas and starting work on Narendra Modi's pet idea of smart cities, one cannot escape the impression that small outlays have been spread thinly over many, many ideas. Therefore I see the budget as a statement of intent and directional change - and not as something that will have high short-term impact.

Karan Arora, First year student, Institute of Management Technology Ghaziabad

Despite the new moves, the present total government spending (Centre and States combined) on education accounts for approximately 4.0 per cent of GDP, which is substantially below the benchmark of 6 per cent of GDP that had been recommended more than 40 years ago. The outlays in Union Budget have gone up marginally from 4.99 per cent as a proportion of the total Union Budget in 2013-14 to 5.08 per cent in 2014-15. As a share of the GDP, the allocations have registered a slight hike from 0.74 per cent of the total budget in 2013-14 to 0.78 per cent in 2014-15.

Education seems to be gradually becoming a primary focus of the government but then as always is the case with our nation; there indeed is a lot of scope for improvement.

Aaditya Mulani, Management Development Institute Gurgaon

It has been a great thought to spare funds for regions like Manipur and J&K for sports, weaving, textiles and so on. Steps for cleaning rivers have been a big step and large funds will be helpful. Similarly, great steps for the power sector have been taken in this budget.

However, the Income Tax exemption limit should have been increased to Rs 3 Lakhs and 80 C to Rs 2 Lakhs. Great decision to increase excise duty on tobacco and cold drinks.

A budget that has looked across sectors, especially kashmiri migrants, weavers and textiles. A little surprised with no real mention to the jute industry.

Prateek Bihani, International Management Institute - New Delhi

Middle class people can rejoice the fact that LED's would be affordable (nil basic custom tax for those TV's below 19'').

On the educational front, 5 new IIMS, 5 new IIT's and 4 new AIIMS institutes are proposed and though it might lead to a brand dilution, more people will feel secure about their education. People might also look up to Agricultural studies and development as a career. FDI will provide more jobs but the insecurity of local players still lurks and the danger of exploitation of farmers possessing little or no land is still on the minds of people.

Shiva Nagarajan, International Management Institute - New Delhi

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