Wednesday, July 15, 2009

BUDGET 09

It took me 8 days to understand the issues of budget 09. But still I do not know many terms related to business like fiscal deficit, liquidity, how sensex goes up and falls down,excise duty, what is the actual meaning of GDP (gross domestic product). What happened at the day of announcement of financial budget 09 that caused the sensex to fall down by 869 points?
I am trying to decipher the meaning of “fiscal deficit in 2009-10 is proposed at 6.8% of GDP”.

Many fallacies and many truths. But this is what I got from best of my knowledge.

The first one is that, what is the need of increasing money for NREGA which is not working satisfactorily? They are giving priorities for this scheme because it was started by congress government that is for sure. They increase money but this is for the “village level leaders” as nothing is done at ground level (or I must say at root level, because I have done a survey on NREGA in my NSS camp).

They are investing money on agriculture but are unable to curb the migration of farmers from village to city. The problem is not with these farmers (or villagers) but the rapid modernization of India that encourages these people to travel towards the city. The government should not invest much on agriculture but invest to provide the facility for poor people and farmers to melt off the migration of these people.

It is good to give an impetus to education. Providing fund for IITs and NITs to improve the educational system is a welcoming proposal. But increasing more no. of IITs will surely dilute the ongoing status of these esteemed institutions (but as you know this is not been done by the FM).Also proposing subsidy on interest rate on education loans will help humble means to go for a right and respectable institute.

But nothing is done for India’s most grievous problem that is Terrorists and Maoists attack. Bigwigs of government make many promises at the time of elections but nothing is done by these defective people. They think that these 5 years are the fruitful years of their life.

So all in all there was a mix response from the society. Some improvement and some just wastage of money. But as you know all the five fingers can not be made equal.
So let be happy from what has been done….

3 comments:

Nurtured in Heaven said...

I fully acknowledge your thoughts anil, but somewhere or the other I think whatever problems these schemes (NREGA n else)have, they have increased the level of living of poor especially in villages.

I do think these hikes were required.

However, the other problems (as you have mentioned) should be the focus of our goverment.

My journey said...

@ Akash: I appreciate you akash but what has been done for NREGA was enough(at least what i think, you might have seen other aspects which i could not observe). because they(the poor) will be getting the same money and the increment goes to the people which i have mentioned in my post.they cuold have raised the same money in other department because do not you think that there is a lot more to do in other areas also.

myreflections said...

hi both of u!(although we meet n number of times a day!)..........
again a nice blog dude....
and yeah the terms like fiscal deficit,shares stocks are not so complicating u think of...
i think encouragement to NREGA is good for the poor people..what we need to ensure is the proper implementation of this in our country...
but i think we the people are equally responsible for its implementation as the govt.
and i appreciate FM's guts to risk fiscal deficit for developemnt.....