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Budget 2009-10: What's in store for a commoner?
Other day when I was watching TV, think tanks were debating on Pranab Babu"s 2009-10 budget. It was Greek and Latin for me to understand their jargons on budget. Fiscal deficit, stimulus, disinvestments… getting into those jargons is not in my purview.
With the limited knowledge on budget and its detailed impacts unlike Finance experts, I as usual was more interested in what is there for me ? and what is there for people around me? When I heard some of the finance experts across the country, I could draw that this budget is Aam AAdmi budget: targeted to bottom of the pyramid, and no major economic reform would happen. For some experts it was a missed opportunity in the wake of recession and for some it was an intelligent effort to strengthen the Indian consumer base, and people BPL. Sensex was among unhappy battalion on Pranab"s suitcase of papers to say about budget. Sensex plunged 867 on the budget day.
Whatever may be the expert opinion on budget , it was Good for me, as Finance Minister didn"t eye on our pockets, rather I was happy that tax exemption limit is up by Rest 10000. 1,60,000 is the limit now for men. Women and Senior citizen to be benefited more. 10 per cent surcharge on excess to 10L is withdrawn, right time to ask for hikes. Finance minister has abolished infamous FBT (Fringe Benefit Tax). Though recession is not good time to buy cars and LCDs, budget will cause them to be available cheaper, though I"m afraid I will be tempted. The centre of attraction of the budget was the mammoth allocation of 38000 crore has gone for farmers and people BPL. This allocation is expected alleviate aadmi"s life.
All in all, like every other budget this budget has also points to cheer and to tear, as I admit I"m not an economic expert to conclude subjectively, but I"m not able to conclude without the doubt that huge money of 38K Crore would really reach Aam Aadmi? Does UPA government have the foolproof, leakage proof roadmap to effectively take the money to the Aam Aadmi?
