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….