Finance Minister Pranab Mukherjee is in the Parliament today, unveiling the budget.
It is interesting to note that barely a week before the Budget was slated to be revealed, The Economic Times carried a hard-to-ignore page on how effectively the growth is poised at a ridiculous 9%. Give us a break. The people are vary now of the same tactic that Congress employs every year when the Budget is expected. We all know how Bennett & Coleman's group of newspapers are pro-Congress. No matter what controversies surround the political scenario, especially during the time of the Budget, Congress has nothing but one card to play: the superficial growth percentile.
It's true that while most of the common people of India, wouldn't understand the economic calculation and mostly, what it actually means, or how it affects a house-wife if she wanders off in the vegetable market to buy onions. 'Ignorance is Strength' may well be a popular line straight out of George Orwell's '1984', but it definitely is the case with India and her masses.
There are lot of deficits - not only Fiscal but even Social Justice and Governance - this time to address, the FM thankfully agrees to this and even admits it. But even that's not enough. What will satisfy us is the fact as to what steps and measures are taken by the Government - its origin (in theory, in Parliament today) and evaluation over the next quarter.
The government needs to address basic issues about the levy of Service Tax in some sectors, while the exemption in others. Also, while evaluating the service tax, and the entire philosophy of levying it in some sectors, the government should ask as to who is actually going to bear the burden. Case in point is when the government levied service tax on under-construction property on builders, the latter passed it on to the consumers. The same flat came at a higher price for the common people (balance payment that needs to be paid after construction). The Logistics sector is an unorganised one, and it's time the government thinks about granting the status of an Industry. The environmental agenda (or political?) of Environment Minister Jairam Ramesh needs to be questioned. The Defence Expenditure needs to be controlled too. I don't understand what the Navy is doing if Kasab and his companions came by the sea on the West Coast.
Hopefully by the time the FM finishes his speech today in the Parliament, we'll have something to cheer about. But one thing is for sure: I won't be trusting the Times Group newspapers.
It is interesting to note that barely a week before the Budget was slated to be revealed, The Economic Times carried a hard-to-ignore page on how effectively the growth is poised at a ridiculous 9%. Give us a break. The people are vary now of the same tactic that Congress employs every year when the Budget is expected. We all know how Bennett & Coleman's group of newspapers are pro-Congress. No matter what controversies surround the political scenario, especially during the time of the Budget, Congress has nothing but one card to play: the superficial growth percentile.
It's true that while most of the common people of India, wouldn't understand the economic calculation and mostly, what it actually means, or how it affects a house-wife if she wanders off in the vegetable market to buy onions. 'Ignorance is Strength' may well be a popular line straight out of George Orwell's '1984', but it definitely is the case with India and her masses.
There are lot of deficits - not only Fiscal but even Social Justice and Governance - this time to address, the FM thankfully agrees to this and even admits it. But even that's not enough. What will satisfy us is the fact as to what steps and measures are taken by the Government - its origin (in theory, in Parliament today) and evaluation over the next quarter.
The government needs to address basic issues about the levy of Service Tax in some sectors, while the exemption in others. Also, while evaluating the service tax, and the entire philosophy of levying it in some sectors, the government should ask as to who is actually going to bear the burden. Case in point is when the government levied service tax on under-construction property on builders, the latter passed it on to the consumers. The same flat came at a higher price for the common people (balance payment that needs to be paid after construction). The Logistics sector is an unorganised one, and it's time the government thinks about granting the status of an Industry. The environmental agenda (or political?) of Environment Minister Jairam Ramesh needs to be questioned. The Defence Expenditure needs to be controlled too. I don't understand what the Navy is doing if Kasab and his companions came by the sea on the West Coast.
Hopefully by the time the FM finishes his speech today in the Parliament, we'll have something to cheer about. But one thing is for sure: I won't be trusting the Times Group newspapers.
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