What is meaning of this budget for the common man?
Neetu Banga | 01 Mar 2011
The budget presented and proposed by Finance Minister Pranab Mukherjee was a bit of a dampener. He did not address the issue of deepening economic reforms in the country and improving governance.
Like each year this year again Finance Minister (FM) Pranab Mukherjee came with bag of federal budget for 2011-12 in Parliament. As this budget is being presented against the backdrop of high inflation, fluctuating industrial growth, erratic exports and a general perception that the reform process has retarded, so the expectation were high from households and industrial sector.
Raising personal tax exemption limit to Rs 1.8 lakh from the present Rs. 1.6 lakh for males will not going reduce common man individual budget as Government is frequently rising cost of other commodities throughout year. FM is introducing wide range of service taxes on luxuries but question is that if poor people of country availing all these services or they can able to get it? It is visible people hardly understand the half-truths of budget. No efforts have been made to raise additional resources and increase in employment for BPL people.
At the end of the day Minister and ruling government will definitely found saying this budget is for ‘aam adami’. Aam aadmi do not have any knowledge of Finance Minister Budget language. After some month it will go to prove for special man (riches). Although, budget have wide talk on fiscal deficit, reduce bank rates, regional expenditure, defence and foreign investment etc., but can it put common man life on survival track, which they are already suffering due to spiralling prices.
The Industrialist and business community always benefits first hand. Is India glowing or Suffering?