NITI Aayog CEO Amitabh Kant said the success of this Budget lies on the government's ability to deliver on disinvestment because the target is really high. Other than BPCL, CONCOR, Shipping Corporation of India, the government has many more which are being discussed within NITI Aayog, Kand told CNBC-TV18.

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As the disinvestment commission it will shortly make recommendations for some big-ticket disinvestments, he said.

The process needs to be quicken, he added. "I am quite hopeful that this target can be achieved, I really think that the success really is deepened on two things --one is put ability to do asset monetisation because that will enable big private sector people to come in on to roads, highway sovereign funds can then come in and on the back of which credit flow can really begin.”

Principal Economic Adviser Sanjeev Sanyal said, “Stimulating demand is just about consumption, we had to also think about getting investment going again and I think there is a lot of things that have been done to basically allow the private sector to expand again."

"For example, there is a lot of emphasis on privatisation. We are going forward with LIC very big one, we already have Air India well in pipeline so big measures on that front. Then we have very large public investment program which was already in existence but we have reiterated that."

"First of all, by introducing this bilateral netting reform we will be creating the framework for a vibrant corporate bond market which we don’t have. So, once this bilateral netting goes through we will have a proper CDS market in India for the first time, of course that too needs to be regulated but that will then allow corporate bond market to emerge which will create a completely new source of financing for our private sector.”

Congress Lok Sabha Member of Parliament Manish Tewari said: “I think Budget 2020 has been less than truthful with the people of India and reason I say that is because the government seems to be in complete denial with regards to the enormity of the economic crisis which confronts the country."

"You have GDP growth which has been falling for six successive quarters in a row. You have investment starvation in the country, you have demand which has not taken off, whatever little tinkering has been done only addresses the pinnacle of the pyramid and that too very incrementally."

"There is nothing substantive which is going to move the base of the pyramid which is 900 million people who live in rural India and most of the outlays for stuff which could have moved the needle have actually been slashed in the current Budget including MGNREGA which puts money directly in to the hands of people."

"This entire tinkering with the tax structure where you have actually added more slabs rather than rationalising it, giving people options to opt out of the expenditure/deduction regime which was there earlier is only going to complicate things.”

Akhilesh Ranjan, Convener - DTC Task Force, while talking about personal income tax, said, “Rejig of the personal income tax structure was one of the recommendation that we had made."

"I personally don’t think that we should have too many of slabs because that does create complications, there is a limit to which you can make a system progressive."

However, he said the government has to balance that with the need of resource constraints, the financial constraints.

"I am sure the details and the figures would have worked out and probably this is the best possible scenario that was achieved.”