Come Peter, come Paul and have a Budget 2010 ball
English playwright George Bernard Shaw had once said, 'A government with the policy to rob Peter to pay Paul can be assured of the support of Paul.' But what of a government that wants everybody's support? It gives you Budget 2010.
THOUGH THE budget, through the ages has been all about planning how and where to spend public money, how important is it really to the masses? How does it affect them? To the common man on the street, gross domestic product figures are not important. Neither are export-import statistics. What is of the utmost importance is if there is any visible improvement in their standard of living. Will this year’s budget let him have more money in hand at the end of the day? That is what he wants to know. He is concerned about only a few sectors that affect him directly, and is mostly unaware of even the existence of any other sectors demanding budgetary allocations.
This year if you wanted more growth steroids as the market did, you would have got into depression. But if you weren’t expecting too much or even nothing at all, the immediate aftermath of Budget 2010 is not too bad a time to be in.
English playwright George Bernard Shaw had once said, “A government with the policy to rob Peter to pay Paul can be assured of the support of Paul.” But what happens if the government wants not only the support of Paul, but also that of Peter, Patrick, Phillip, Pam and just about anybody? You get an economic policy package like Budget 2010 presented by the FM that tries to give something to everybody. Now, one can argue that one can’t give enough to please everyone, but try telling that to an astute politician like Mukherjee, who tried to manage the contradictions in a way only a seasoned politician can.
Since the UPA government’s recent electoral success was based on the “please all” mantra of “give, give and give still more”, the Budget is clearly all about sticking to a winning formula.
Not even media, the fourth pillar of democracy is keen in highlighting the plight of the common man who is the victim of price rise and recession. But what interests media is Finance Minister’s daughter writing the most farcical article on budget.
Yes, you have guessed it right .I mean the open letter exchanged between “Father and Daughter”. In fact a leading regional newspaper has devoted half a page to highlighting the letters. Although almost every newspaper has carried the news the letter is nothing but a farce. The only sensible thing the daughter of the soil has sought is tax relief for artists. But, there is nothing new as most respected artists have been asking for it for a long time though in vain. Thanks Sharmistha (Munni) it will surely be on FM’s agenda next year
English playwright George Bernard Shaw had once said, “A government with the policy to rob Peter to pay Paul can be assured of the support of Paul.” But what happens if the government wants not only the support of Paul, but also that of Peter, Patrick, Phillip, Pam and just about anybody? You get an economic policy package like Budget 2010 presented by the FM that tries to give something to everybody. Now, one can argue that one can’t give enough to please everyone, but try telling that to an astute politician like Mukherjee, who tried to manage the contradictions in a way only a seasoned politician can.
Since the UPA government’s recent electoral success was based on the “please all” mantra of “give, give and give still more”, the Budget is clearly all about sticking to a winning formula.
Not even media, the fourth pillar of democracy is keen in highlighting the plight of the common man who is the victim of price rise and recession. But what interests media is Finance Minister’s daughter writing the most farcical article on budget.
Yes, you have guessed it right .I mean the open letter exchanged between “Father and Daughter”. In fact a leading regional newspaper has devoted half a page to highlighting the letters. Although almost every newspaper has carried the news the letter is nothing but a farce. The only sensible thing the daughter of the soil has sought is tax relief for artists. But, there is nothing new as most respected artists have been asking for it for a long time though in vain. Thanks Sharmistha (Munni) it will surely be on FM’s agenda next year
.The Union General Budget presented by Shri Pranav Mukherjee on 26 February 2010, while indicating a clear roadmap for all-inclusive growth in the future, was a mixed bag of concessions and price escalation of items generally used by the citizens. He announced substantial increases in allotments for Education, Social Welfare, Health and Agriculture, activities that directly impact on the common people. However he also conceded that the real success of various schemes would only be possible with better governance and accountability.
Introduction of the new Direct Tax Code, GST and Company regulation by 2011 was also his aim. Another major objective was to extend the Rights of Information, Work and Education to Food Security. These are also likely to benefit the people in the long run. Many concessions for the Farm and Infrastructure sectors were also announced.
On the direct and indirect Tax front, he provided pleasant surprise in increasing the No tax limit to Rs 1,60,000 and only 10% tax there after up to 5 Lakhs. The next slab of 20% saw made applicable up to 8 Lakhs. Introduction of Saral 2 form for IT returns for salaried class was also announced. In the Indirect Tax portion the aim seemed to increase the burden on higher middle class and above. However the excise increase on Petrol and Diesel, even though by a small amount, is bound to impact the cost of all common user items. This naturally would upset the home budget of people.
Overall it was a mixed bag of giving by one hand and taking back, probably much more, by the other. For taking up large socially important projects the government does need funds. With the increase of salary structure of government and organized sector, it is but natural for the prices to increase to some extent. But the weak monsoon and rocketing prices of items of mass consumption that have necessarily to be imported, made the inflation to increase rapidly. If growth of 8-9 % is achieved during the year, the money reaches in the hand of those for whom it is meant and not in the hands of middle men and corrupt officials, the agriculture production improves, the monsoon is normal, terrorism and Naxal attacks are controlled and global atmosphere remains generally conducive to growth, then this budget could turn out to be a success story for common people.
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