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The Budget has suitably identified education as a ‘merit good’ and put commendable emphasis on it. Full interest subsidy for economically weaker sections to access higher education from recognised institutions and the extension of the income-tax deduction in respect of interest on loans for pursuing higher education to cover all fields, including vocational studies, are in the desired direction.

Financial access for higher education should move in sync with access to the institutions of proven efficiency, thus enhanced provision for new IITs and NITs is a good step. However, more importance was expected in linking education and employment by incentivising human-capital-intensive service sector to help educational investment breed higher returns. Modernisation of employment exchange in public-private partnership, however, is a good step ahead in this direction.

A higher emphasis on non-excludable service provisions such as police service is definitely an indirect endeavour towards ‘social inclusion’. Secondly, enabling self-employed to participate in new pension scheme and to avail themselves of tax benefits is a good move towards ‘occupational inclusion’.

Sahana Roy Chowdhury, Kolkata

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