Not sure why but this year I am having close watch on the moves or the happenings around the boundaries be it Oscar or Union Budget. Respected FM Mr P Chidambaram has read the union budget in assembly today. A well versed and reversed speech by our hounrable minister and the hold on words was commendable (very much appreciable). The way he kicked off the presentation, everyone stalked it with great hopes; all ears and eyes open. Highlights are all over, but honestly this budget as per my understanding is weak and will leave us politically lame. I have tried putting across my thoughts one by one on few highlights:
1. Allocation of funds to different sectors for development: good move sir, but I just wish the money stay alive & safe till this plan comes in action for its final consumers. We are well aware of the scams now and then happening in the country and transfer/movement of funds here and there for own good. Hope you have enough backup plan before your govt goes on toss J
2. Rs 200 crore to stop women harassment and FM announces Nirbhaya fund for women too: Kudos again sir, thanks for uplifting the spirit among the real owners of this money proposition. But to be honest not convinced coz first lets define to whom, we would like to call as victim: the one badly assaulted in public or the one dying within household boundaries in correspondence of arranging the basic needs. Yes, I am speaking of domestic violence too which is predominately present in every 3rd house of this country in some or other way… hope you have an answer for this too.
3. Mr FM says - Health and education for all remain our priorities: offcourse sir, they should be given due importance as the old saying goes ‘eat well and study well to survive in the battle of life’. But needless to confront that the said health can be only gained when adequate proportion of nourishment is swallowed and which is not so possible due to price hike every now and then. Ahaa the Education too, Mr FM just FYI that in our country India the literacy rate is 74.04% in 2013. No doubt there is an improvement observed over past decades but majorly in the steady increase in no of schools/institutions, the quality of education is still invariant. And if I consider the kids going to some A or B class schools then majority of income shredded by their parents is on this uplifting only and beating the unnecessary needs of school in some or other form. Sadly, Education has become mere money making business nowadays. Are we having any check on them…guess you may plan to make some committee some day :O
Forgot to mention your so called announcement about scholarship to be given to SC/ST girls – though I am not casting any community biased statement but aren’t you publishing casteism tribe…?? Let everyone have equal opportunity to grow and flourish.
4. Rebate announcement for new home buyers: definitely another good move to promote the people to earn the basic necessity among ‘ ROTI, KAPDA, MAKAAN’. I am just shooting one question here, isn’t it unfair to have a roof without food and clothes…??
5. India's first women's bank to be set up. it will be a public sector bank: looks like a lollipop for women but sir your target market isn’t a kid anymore. No existing bank treats us as an alien. Though lets wait when you unfold more on the stringent proposition of this plan and what purpose exactly this going to serve where internet Banking is already a spread like a virus J
6. 294 more cities to get private radio FM stations: another star in your flowery presentations, my straight question ‘Did you actually listen to any FM station this morning before presenting this? Since there is going to be no overhaul of statement but still did you try and listen to the voice of common men for which you have read this whole Budget 2013-14 chapter.’
And now one keen advice after getting back to home please switch to one FM atleast and listen to the questions that remain unanswered with this most anticipated budget. How difficult it is becoming to earn the bread and butter for survival, wish you can live life as a mango man for a day only :$
7. No revision in tax slabs: this is all we waited for L. Highly disappointed as already we are overburdened with paying TAX for this and that thing and then also no revision in tax slab.
Just a FYI: on an average in an year an Indian spend 45-50% of his total income just paying so called TAX. You can label it as any Education/ Service/Cess/ VAT/ Income and blah blah (who cares since we don’t have choice to set ourselves tax free). I am ruthless but still want you to calculate what is left with us to spend on an average and that to ensuring the necessary upbringing of self and offcourse of our dependent follow too J
I am impressed with your saying ‘"I believe there is a bit of Azim Premji in every taxpayer." Please correct me in case um not following; A person who organizes and operates a business or businesses, taking on financial risk to do so or in simple words to put across who risk to earn his own bread and butter by working hard is termed as an ENTREPRENEUR. Yes sir we are born entrepreneur coz since childhood we grow up seeing our parents fighting hard to survive in the battle of living and so thus we follow. Existence has itself become a challenge to us now.
“Meanwhile sensex is also dropping with such a solicited budget speech”
8. What is costlier - Cigarettes, mobile phones, dining in AC restaurants, SUVs: sir we aren’t able to justify to our basic needs, thinking of luxury has already become a nightmare to us. What is cheaper - Jewellery, leather goods: even though it has lowered but the tax and surcharge will equal the amount. Also if I appreciate the move then please let us know where shall we go wearing the jewellery; bank lockers/ houses are already not safe keeping the precious gems (words like chain snatching and robbery aren’t new to any).
Though I lack hold on few untouched topics like fiscal deficit, credit rating thus leaving them as non-discussed.
This budget is as good as Railway Budget by RM Mr Bansal 2 days back and I am sure like him, your wife too will give you cent percent for justifying the close call between need & supply (I strongly object but since its your personal matter ;) )
Also we very well aware that in this contemporary world, no free lunches are available but still paying back more than we actually save is also not digestible.
But hearty thanks for letting us know that for whole next year too you have laid us burdened to either question on our own existence or survival, left us mourned seeing our empty pockets again.
I welcome and wish to have all together new era in political summon of this country. I am sure now even a 3 yr old kid have an understanding of not calling this place as “country of golden bird” anymore.
Salute to rich politicians of poor country (By RICH I consider mentally, physically and wealth wise) (Y)
I am not sure how many second this strict observation of mine on this budget but guess fresh air is still available free of cost (contaminated with air pollution, treat the same as freebies ;) )
Neha, I agree to your point of view but partially disagree....as what it seems is like you have studied the budget in a biased fashion....Indeed the budget 13-14 is not up to the expectations of the public...but don't you think that the expectations are also too high to be fulfilled according to the current conditions...now you would ask a question to me...."Who has made the condition of the country so worse..??" Here I totally agree with you that its those corrupt politicians who are eating the country like the termites...
ReplyDeleteLets not drift with the topic anyway....So, here I go with my consolidated thoughts:
Increased allocation for social sector as well as food security will benefit the poor in a big way, and yes your concern over this point is legitimate that it should remain untouched for the sole purpose for which it has been allocated.
Exemption of custom duty on import of machinery and semi conductors, investment allowance of 15 % on investment above 100 crore would encourage investment. Increased investment will increase the employment and hence would help the general public directly.
On the point of over 249 cities getting a private radio, your point is good, but I personally don't feel there's a connection between listening a FM channel and then presenting the budget containing a proposal of over 249 cities getting a private radio Fm channel. I appreciate this move as there are many cities in our beloved country which are lacking behind in the race of knowledge and tech. And as we know that now a days FM channels are not only transmitting songs and fun stuff but also educating people. And they could prove to be the fastest method to spread good words and education.
There is a huge increase in outlay for education, which is about 17% higher compared to last year. Budget for rural spending has also been increased by 49 % to 820 billion.
Current year fiscal deficit target has been well achieved and next year it is targeted to reduce to 4.80 %. This should go a long way in revival of economy and putting economy on a higher growth trajectory.
Rs 2,000 relief to taxpayers in the Rs 2 - 5 lacs bracket would certainly put more disposable income -howsoever little.
Overall the good thing about this budget is that there is no bad thing for a common man. Although it is moreover a neutral budget but it has some toppings over it.
FYI: Fiscal balance or Government Budget balance is the difference between government revenues (e.g., tax) and spending. A positive balance is called a government budget surplus or fiscal surplus, and a negative balance is called a government budget deficit or fiscal deficit.
[No Offences ;)]
Thanks PV for your honest opinion. I agree my view is subjective and more of static but I tried speaking the mind of people like you or me i.e. basic consumers of this whole budget chapter. To me Budget means the balancing of expense and earnings, valid for both Institutional and Individual which was clearly missing here except his fairness towards the Defense sector (fund allocation of 2 trillion). Also when we conclude it’s a neutral Budget then I have one statistic to share:
DeleteYesterday, Sensex falls 1.52 per cent to settle at 18,861.54, its lowest level since November 27. Nifty drops 103.85 points or 1.79 per cent to 5,693.05.
Anyway, not trying to debate but my reply to the questions marked by you…
Increased…..allocated: you are already with me in this; corruption is in the roots of the nation. Ant judgmental by pointing finger to anyone coz I agree I am also contributor (may be tiny) to this dirt. So to fight either you create another giant as huge as this or leave it in the way it is…Now!
Exemption….directly: well I wasn’t able to locate any point confirming the exemption on custom duty point but in all this lead to FDI I am sure. I am firmly in sync with this whole concept of FDI thing but subject to condition it is used in better good of country. To me it’s more of transition of power & money from one another nowadays. And every economist relate FDI to employment, damn yes it’ll yield to more employment – first coz we Indians aren’t ashamed of being called ‘Sasta Majdoor’ and secondly since our government can’t generate requisite no of jobs thus invite outsider to create opportunities (are we really this short of ideas to generate opportunities or leaders). Gujarat is making an exception to this story and pretty well known as land of born entrepreneurs.
249 cities will have FM stations: I remember from school all these i.e. FM, TV etc. are considered as mode of communication. Alas they have lost their meaning with advent of technology, ant drifting from the point raised but to share Delhi has got 20+ FM station and cent percent every channel was keeping close eye on this much anticipated budget by sharing expectations, suggestions, opinion of every common man they can relate to. Not to go further, I was just wishing that if he had heard one and would have understood what was expected and since now this is permanent for an year thus should listen to the points that remain untouched, hopes that are crashed (I would not buy excuse if you say people had huge expectations coz who else will have than, m sure animals don’t demand :) )
Advancement and addition is always good and appreciable but I am sure a villager will treat this as luxury which makes no sense with scarcity of basic need :)
Fiscal deficit: (though I already confronted I hold lack of knowledge on subject but still with my understanding so far after googling and from your FYI) is the difference between the government's total receipts (excluding borrowing) and total expenditure. Pegging the target to 4.8% of GDP seems trigger is right and battle is on but just to share GDP in the current year ending 31st march, 2013 which is a record low during the last 10 years (evidently put across by our FM only :) )
Relief of Rs 2000: definitely impressive mark but more or less like few drops from the ocean. My point of spending almost 49% in different type of taxes still remain invariant….sad to share that saving (for which we Indians are known) doesn’t interest to massive people these days.
Also would like to refer one word INFLATION here – sole responsible.
If he is aiming to beat Indonesia and second the race of fastest growing economy after China than I am sure WPI (Wholesale Price Index) model won’t work, let’s switch to CPI (Consumer Price Index) as being the highest population across globe also demand the same.
Over the point of Rebate announcement for new home buyers: I would rather say that increased allocation for rural and urban housing and additional tax cut of Rs 1 lakh in respect of investment on home loans up to Rs 25 lakhs would help public to have their own home where they can live safely at the first place. A report of the non-government organisation Action Aid in 2003 estimated that the total homeless population in India is 78 million. In Delhi, the Delhi Development Authority says that at least 1,40,000 people, or about a per cent of the population, is homeless. This is one example, there are many such statistical data which refer to the homeless people ratio which is very high.
ReplyDeleteUnder Indian laws, homeless beggars are treated as criminals and booked under various beggary laws. The Bombay Beggary Prevention (1959) Act defines beggars as anyone soliciting alms and who have 'no visible means of subsistence', including those who sell small articles at traffic lights and other public places. When penalized, beggars or homeless persons have to face hearings at a special court and may be sent to an institution, or can bail themselves out by paying money. A study found that 15 per cent of the respondents in Delhi were arrested for living on the streets, 14 per cent for begging, and 5.5 per cent for other crimes.
Most homeless people are not beggars. A study found that just about 28 per cent of the homeless live on mendicancy. Homeless people are also more likely to be the victims than the perpetrators of a crime. Not only are they robbed of their meagre possessions and savings, but women and children are also more prone to sexual assault, most of which is committed by persons in authority.
When a chief minister or any VIP passes through an area, the homeless on those streets are driven away. The homeless in Chennai say this happens for about four to five times a year. A homeless man from Patna, who sleeps in Gandhi Maidan, says in the study: "We get beaten up badly for sleeping here." The cruelty with which homeless are evicted from their makeshift houses is narrated by a homeless woman in Patna: "Halla Gardi (literally commotion, here used to refer to bulldozer) displaces us. When the administration pulls down houses, it also throws away our food and breaks our worldly belongings. They kick at our chulla and bring it down. The bamboo is torn. Suitcases are thrown away. They abuse us. What can we do? We have to stay here so we keep mum."
If we take a look at the other aspect, a person living on rent or as a tenant pays 6000 - 7000 rs per month on an average. It sums up to be 72000 - 84000 rs a year. Gosh! thats a hell lot of money. The average pay in India is 1.5 to 2 lacs a year . Now you only tell me if a person would have to pay half of his salary as a rent...what will he eat and what will he save...as a very famous Hindi quote says..."Nanga nahayega kya aur nichodega kya"...???
So, after considering all these aspects I appreciate Mr. FM for making a good move for the people who have to suffer from these kinds of problems due to lack of permanent shelter or no shelter at all...
Rebate announcement: Ahaa thanks…. you itself have concluded my answer by quoting "Nanga nahayega kya aur nichodega kya..???”
DeleteMeek point to state ‘what will you do with a roof when naked with empty stomach…?’ (am sure you are good at getting sarcasm :) )
Also please help me having the calculation of a 2 BHK in India on an avg in all states despite of area segregation to see the impractical capping in first housing loan up to Rs 25 lakh to avail additional deduction of interest of up to Rs 1 lakh in 2013-14.
And since we are now on with homeless people statistic then I have only one answer ‘its people’s perception, don’t drag power into it. I am sad to see the figures are increasing for homeless people but roads, platforms, open spaces etc. aren’t the solution. There is a lot of money allocated in this budget and in past budgets too, but still stats are increasing more decently than population of country. Other side of coin is these people are so accustomed to their habit that even they feel themselves more comfortable in begging then slogging their ass in some productive work which eventually yield them money and better living :)
And also let’s not get into the debate of “humne kya khoya, kya paaya” over the last fiscal year coz this year too we are borne to suffer than suffice :)
I am still happy and convinced that respected PC hasn’t shown gloomy picture to us saving the back of UPA from woo of election :)
Nice Interpretation Neha, But study of your's seemed to be a little biased on some points.
ReplyDelete1) I Agree with you on SC/ST scholarships, There is no rule for finding the needy people. Casteism tribe is been followed as vote bank by politicians from the starting of our constitutions. Scholarships should be provided on the basis of talent in a student to grow and poverty level. Being from a very small town I know what exactly the scenario is. People who are earning well have power and they manipulate the scholarships to be given for their own beneficiaries. The right candidates never been selected.
2) I agree with you on Mid-day Meal scheme. Being from a part of small village I know what is the status of Mid-day Meal at schools. Students in school are 50 while 80 names are registered on papers. Those 50 comes to school just for that meal, teacher spends their time in gossiping not in teaching. All that just because the instruction from the superiors to give a share of the money they get for Mid-Day Meal.
3) About 249 New FM stations will be a good medium of Information Flow. But only and only if the question asked through those medium should be heard by the government.
4) Tax slab didn’t give any smile to faces.
5) Extra deduction for the first home loan makes dream of house makes out of reach.
6) Jewellery and leather is in luxury not in basic needs. Rightly said Neha that the cut down of rates on Leather/ Jewellery will be asked as taxes. So whats the change in that. No discussion on basic need GAS, Petrol.
7) No discussion on Quality schools at primary level. Only having more IIMs and IIITs or IITs not gonna help.
8) Agree Neha about Women Bank Partially with you. As online banking is a viral now a days but education of online process is not provided by govt., Online is a very big word for rural areas till date.
9) Security is the main thing should be focused. Very well raised issue of Violence at home, no rules for that. Fund is been issued but who is gonna get benefit out of it.
Everything could have been good only if strict action could have been taken against corruption and reservation.
Thanks Atul but more or less I am finding you in my side only. Invariability doesn’t stand; nowhere I have quoted about Mid-day meals coz this doesn’t really appeal much to me in contrast to other big pictures already in motion.
DeleteAnd well quoted the parity among everyone and providing aid to needful disregard of their caste and community.
Also I am still awaiting for Mr PC to open up on their plans about first ever public women bank as um already too much judgmental about it.
Well written.. nice to know your keen interest on Budget, 2013.
ReplyDeleteI do not give much time on news because I know things are coming to us are biased. Country welfare is only on words.
Keep analyzing things :)
Listen this.. you will get very good idea that how Economy works in our country.
https://www.youtube.com/watch?v=JmeKtGO6eWo
Thanks for kind words Gopal, will check out :)
Deletelittle correction neha .... nirbhya fund of 1000 cr not 200 cr. http://articles.timesofindia.indiatimes.com/2013-02-28/union-budget/37351054_1_union-budget-finance-minister-women
ReplyDeletePlz re-read it:
DeleteRs 200 crore to stop women harassment and FM announces Nirbhaya fund for women too
Source: http://timesofindia.indiatimes.com/Union-Budget-2013/liveblog/18723346.cms
Ref: 11:48 AMWatch: Rs 200 crore to stop women harassment, FM says