Fiscal prudence prevailed and the tax sops announced for the taxpayers — increase in deduction for New Pension Scheme, health care insurance and transport allowance, tax-free infrastructure bonds — will support, overall, a culture of savings and growth. Repealing the Wealth Tax Act and replacing it with a more realistic two per cent surcharge on the super- rich is very welcome. There are strong measures for curbing black money and making those with unaccounted wealth accountable and punishable for failing to report and evading taxes