Mr Modi’s budget rules – “ Much ado about nothing”.


Now at the fag end of 5 year terms. Year after year, budget is praised and criticised. I find all budgets good as each budget allocates funds to various schemes/programs. But when it comes to implementation of these schemes in a timely manner, I see miserable failure all around. While many false promises are made by all political parties, people expected a lot from the BJP and they have definitely failed in delivery. While the govt got a bonanza on the income tax front, Jaitley who made so much of noise about increasing the minimum threshold from 2 lakhs to 5 lakhs in 2014 could not do so even though this was an election budget. Any amount of FDI in defence will be a failure. We believe in ‘Chaltha Hai’ attitude and what ever guns we have managed to produce have all been failures. Effective utilisation of allocated funds is more important than its allocation on paper. Surprisingly there is no published data as to how much of these funds are really reaching the people for whom they are meant.

The enormous challenge to the Nation in the form of unemployment is so severe and yet no mission oriented and strategically planned initiative is being undertaken by either Niti Ayog or the government or the corporate sector on a war footing, why? How jobs can be created by Govt? We Indians love to hoard and the opposite is what will help churn the economy. Where is the 2 crore job opportunities promised by Mr. Modi? Now the development has comedown to the selling of “pakora”. While the pakoras are getting ready, very large number of govt vacancies are being abolished. While middle class did not even get a rise in tax slab or lowering of tax rates when job cuts have risen to alarming levels already impacting millions of families. Provided the private jobs are in abundance. India adds about 30,000 employment seeking youth to its workforce every day, day after day, yet we have no clear focused and well structured road map to solve this problem. Make in India” will not create enough jobs for Indian engineers, MNCs will set up hugely automated factories to make in India without much of design work in India.

Now the MBP for Farmers who have been in distress- how all of a sudden at the fag end of their term they realize how they neglected the rural household for last four years- is it just election budget before Lok Sabha elections. If the govt imposes new taxes to take credit of something, it has no meaning. A tax for kishan kalyan is there. Where is the money? Why are farmers committing suicides? Hope Central and state governments come up with more viable solutions to obviate the gloomy scenario of farmers’ distress. A good governance is all about a good management within the limited resources. To alleviate farmers’ distress MP and Hariyana governments have come with Price efficiency system for kharif crops and vegetables respectively. Farmers’ loan waiver is not the solution. Telengana government’s scheme of working capital support to farmers to cover all the input expenses more promising.

When Congress loots its a scam, when the BJP loots its “Vikas”. Why the oil price is so high ? Where is the fundas of Mr Jaitly to rationalise the oil price? Petrol price is Rs. 80 per litre in Mumbai when the crude oil price is about $60 per barrel. What will happen if crude oil price goes to above $140 per barrel ? People should know that oil price is left on the international price of crude oil. The price of all other commodities are directly dependent on the oil price. If the fiscal deficit is the reason, then certainly the previous govt had raised the oil price with the increase in the international price to minimize the fiscal deficit. Then no one should have raised any question at that time. How much fiscal deficit has been reduced by this govt by maintaining such a high oil price, imposing several taxes, imposing several new charges in the banking sectors etc. However after coming to power, BJP showed its real face. It spent more energy in thwarting AAP, a puny party compared to itself instead of uniting the country.

Now the rural focus- this Government used to make lot of fun of CPM and Congress for subsidy regime and free cost structure. India announced free health care for half a billion poor citizens, next step will be universal health care for all Indians. How this Government is going to cover 8 crore household of 5 lakhs Mediclaim free of cost. From where is the money going to come? This as a move toward American style healthcare which is nothing but a predatory loot of society by a vested interest group. India (and the world) needs a robust public healthcare system. Sadly, we live in times when the public hospitals are first laid waste to, public confidence in them eroded, and then the private sector loots the tax money.

Long term capital gains in stocks are back at 10% which is sad because people had barely started investing back into stocks in the last decade or so leading to stock market rising to 35,000 levels. With demonetization and coming of GST some parts of economy will be formalised but it’s a long way to go before we are on par with developed world in the formalization of our economy. How did China our neighbour succeed in building a dizzying rate of growth, the middle class spend created the economic miracle. In India middle class have not that much money to spend on items like latest electronic gadets, smart phones, designer clothes and high tech cars, etc. Here it only goes to build the government and props up the lazy bureaucracy. The middle class being the part of the 4% tax payers, bear the brunt of the taxation. So to create a very well to do and relatively wealthy middle class, needs re-structuring of the economy. If the goal is to contribute to nation building, removal all exemptions and make every earning adult pay taxes even if it is just a rupee. That way people will not see buses burnt, trains stopped and bandhs organized.

India never had a good ruler since independence. All of them including the current PM has proved to be the facilitators of crony capitalism. If someone is a Modi bhakt and chants Modi mantra day and night, he will be definitely rewarded. Modi ji is mastered the art of quashing any opposition by equating an anti-government sentiment with anti-national one. People became desh-drohi just because they questioned his policies and or their poor implementation. Indian have seen how Mr. Anupam Kher has been warded Padmashri and then appointed as the Chairperson of the FTII. Mr Chetan Chauhan (Cricketer) has been appointed as the Director of National Institute of Fashion Technology. Mr Sambit Patra, a doctor by profession, has been appointed as the Director of the ONGC only through chanting of Modi mantra. How can Indian call such a govt as honest and fair? Can we find a single Director/VC in the centrally funded institutions/universities who is not a member of the RSS at this moment? Days are not far behind when the Heads and Deans of an institute/university will be appointed with the recommendation of the RSS.

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