Mumbai dailies dissect Budget 2014

PrintWeek India collates all the top stories that have made headlines a day after the new Modi government presented their first budget. Finance Minister, Arun Jaitley reduced customs duty on several products, but also hiked excise duties on other products. While those who were expecting and calling for a tough, non-populist Budget, were left disappointed.

12 Jul 2014 | By Mihir Joshi

Finance Minister Arun Jaitley reduced customs duty on several products, but also hiked excise duties on other products

Indian Express' headline 'Jaitley Journey-I' highlighted how the new Finance Minister stuck to his three goals of boosting growth, controlling inflation and fiscal consolidation.

DNA married the FIFA World Cup with its coverage of Budget 2014 and focussed on the positives from Arun Jaitley's presentation. The budget's boost to real estate and infrastructure were highlighted along 'no new taxes'.

BusinessLine labeled Budget 2014 as pragmatic, pointing towards the lack of big bang announcements but still having something for everyone. In Arun Jaitley's own words, "It is a directional budget."

The Economic Times also stuck with the football flavour with ' Aiming for goal, Modi hits crossbar' headline. ET also pointed out the many similarities between the Budget 2014 and P Chidambaram's interim budget.

The Times of India focussed on the tax breaks provided by Budget 2014 with 'FM makes money for you' headline. It also highlighted the budget's something for everyone approach.

Hindustan Times encapsulated the market's moods with 'Back on track, but miles to go'

headline. Most of the focus remained on the tax breaks and finance minister's 'low risk' budget with skill development plan, affordable housing and higher pension for senior citizens.

Business Standard opted to highlight Jaitley's promises to limit fiscal deficit at 4.1% of GDP; give optimistic tax revenue estimates; offers sops to manufacturers, individual tax payers, and markets.

Mint, the financial daily covering stocks, commodities, companies and the economy, did what we consider one of the most comprehensive analysis of Budget 2014. It highlighted the policy shift in the Budget with their 'Rebooting India' headline.