Some pundits have been quick to criticize the recently released $290 billion budget of the Government of India for the fiscal year ending March 31, 2016.
The Wall Street Journal says India needs a Margaret Thatcher. It has characterized this opus of Prime Minister Narendra Modi as mediocre and an incremental approach to economic reform, stating that entitlement subsidies for fuel, fertilizer, and food were not addressed — nor were the cumbersome procedures for land acquisition. Further, a more aggressive privatization policy was the hope of some observers. In general, critics think the budget is not radical enough.