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'No more fringe benefit tax -- that's great!'

Apoorwa Wagh, vice president, marketing, at EFKON India, has mixed feelings about the new budget.

For one, he's excited that the fringe benefit tax has been scrapped. "Surely our pockets will be a little heavier now," he says, smiling.

But he, like virtually everyone else we spoke to today, is upset that the personal income tax exemption has only been lifted Rs 10,000, to Rs 1.6 lakh (Rs 160,000). When asked what that number should be, he doesn't hesitate in replying, "At least Rs 2 lakhs (Rs 200,000)."