AS PUBLISHED IN FREE PRESS DATED 04/03/2011
The much awaited commercial film titled “Budget 2011-12” has turned out to be a official documentary. There was no populist masala, no gimmicks of numbers, no slogans and no tall claims, rather it was a plain statement of facts and a random distribution of income. The finance minister, who remained busy in rescuing the government on various front for the last few months, had little time to put his mind and soul in the budget All expected and unexpected, both elements were missing.
The most expected element was the issue of tackling black money and corruption along with an action plan for extradition of money stashed abroad. On these boiling issues only certain rhetorics were performed in the budget. A further roll back on fiscal stimulus was another likely move, which did not happen. Substantial relief in personal income tax regime to compensate for scorching inflation was only partially fulfilled.
The finance minister has reserved all his “dear to heart” projects like DTC, Direct cash subsidy ,GST for the next year and decided to get clear his bills in respect of number of finance reforms bills pending for long years. Considering his lucky number(3) he decided to allot 300 crores to a list of newer initiatives. The rituals of increasing allotment of important sectors like infrastructure, health, education, social etc. were done as per available resources.
There were certain welcome steps like reduction of age for senior citizens from 65 to 60 ,increase of agricultural credit flow by 100000 crore, developing extra warehousing facility, allowing tax free infrastructure bonds etc. but on the whole it failed to win the hearts of people. This directorial venture of Pranab da has totally failed at the box office.
Bharat Sharma
C-44/8 Bargad, Rishinagar Extension
bargadaashram@gmail.com
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