Nothing to augar employment increase Disinvestment of PSU is just killing of Golden Goose! Cascading effort of Tax burden on Petrol and Diesel!
The NDA after securing massive mandate in the Lok Sabha elections has assumed office under the Prime Ministership of Narendra Modi, for the second consecutive tenure. Finance Minister Tmt. Nirmala Seetharaman presented the Budget on 5th July 2019 at the Parliament.
The State Governance of our country is on the pattern of parliamentary democracy of England which ruled the country for more than two centuries.
The term ‘BUDGET’ refers to the bag, brought by finance minister. As per the term the finance minister brought the fiscal details in the bag instead of in a ‘box’ !
Time has come for the RSS to bury its sanatana dharma as a compulsion of progress. As per the varnashra dharma and as per the interpretations of RSS ideologue the women folk have to restrict themselves as servant maid within the house. But, today a stage has come for a woman finance minister acquiring merit and right to present the budget of the country’s current fiscal proposal . This revolutionary task has come to Tmt. Nirmala Seetharaman next to Tmt. Indira Gandhi.
Usage of many languages in the budget is akin to spices sprinkled on the food items
Many proverbs and poetical references splashed multilingually while presenting the Budget. The quotes ranging from poet Pisirandaiar in Purananooru (Sangam literature of classic Tamil), Urudu, Hindi, Sanskrit – Chanakya’s anecdotes found in the budget speech were like sprinkling aromatic spices like pepper etc.
The common man, peasants and unemployed youths expected much more. From the populistic verbatim, poured out by the PM during the previous 5 year tenure like providing employment for 2 crores persons per year, depositing Rs 15 lakhs in the bank accounts of every citizen from the recovered black money etc. announcement of at least a meagre share was expected by many but ended in vain.
Tax burden imposed on petrol-diesel Leaping further more!
The finance minister while presenting the budget for the current fiscal stated that there would be an increase of Rs.2 per litre in the prices of petrol and diesel. It was announced that the burden component comprises of Rs.1 per litre increase in the Special Additional Duty (SAD) on petrol and diesel and a Rs.1 per litre is in the Road and Infrastructure cess on the fuels.
Later the revenue secretary of the Government of India said the current finance bill includes in the increase the ceiling that can be levied on both the duty and cess as per the clause 185 and clause 201 of the Finance Bill. Enhancing the ceiling on the leviable duty and cess would add up to the cost of petrol and diesel further by Rs.5 per litre.
While presenting the budget the finance minister has conveniently avoided the mention of ceiling increase on duty and cess. What was palatable was spelt out. Yes; it is just sprinkling of spices on the food that was not properly cooked not reckoning the real welfare of the common man.
No scheme to eradicate unemployment
Many youths and graduates, who are in sheer vex and poverty rightfully expected some solution for their future. It was assured to double the farmer’s income. No definite substantive pronouncement was made but to sustain the suffering with tears and agony.
Nearly half of the country’s terrain suffers in the shackles of drought
Financial allocation, minimized for farmers
‘Prime Minister’s Kiran Yojana’ envisaged minimum support price for agricultural crops in the interim budget. No concrete measures were announced for that in the budget.
The presently announced allocation of Rs 75000 crores is not sufficient to be disbursed to all the farmers. The data show that the financial requirement for small and marginal farmers itself amounts to Rs 87000 crores.
The leader of BJP affiliated Bharatiya Kisan Union, Mr. Dharmendra Mallick himself is critical of non-reckoning of country’s growth by the finance minister in the budget.
The former governor of Reserve Bank of India has raised doubts on the authenticity of the data on the economy of the country.
The financial allocation for Mahatma Gandhi Rural Employment Guaranteed Programme (MGREGP) has come down to Rs. 60,000 crores from the revised estimate of Rs. 61,084 crores.
In the budget presented by the woman finance minister, the share of financial allocation for women development and empowerment has deteriorated from 5.1 percent to 4.9 percent.
Cascading Impact of Tax Burden on Petrol-Diesel
The addition taxation in the forms of cess and additional duty imposed on Petrol and Diesel would play a havoc in the lives of humble middleclass families and definitely hike the price of commodities by the net effect on the increase in freight charges.
Mere massive announcements but clearly without revenue augmenting modes!
In fact the announcements are alike mirage which is never accessible.
Both private sector and corporates jubilate on the budget, for whom the budget announcements are beneficial.
Is it wise to cut the Golden Goose?
Disinvestment of PSUs – that too good profit earning concerns is similar to killing the golden goose to obtain more number of eggs .How is it possible? The budget was expected by the poor and the poorer as kindling light in their everyday life, but resulted in total disappointment .
Instead of the already proclaimed ‘Minimum Government Maximum Governance’, authoritative governance of the State is prominently blatant in the budget.
FDI is a challenge to Sovereignty
By opening the flood gates of FDI 100 by 100 with enormous concessions, the very economy and sovereignty of the State would be at stake. Danger is ingrained; it is painful deep. Let us wait and watch!