The IIPM Think Tank proposes that the Indian budget should not only be a societal budget, but also be a platform wherein the contribution of aam admi should be allowed
Even total Union Government spending has significantly decreased (as a proportion of country’s GDP) in 2007-08 compared to 2006-07. There should have been an increase in the Plan expenditure component in order to endow India with ample resource support for critical development to sectors like agriculture, employment, health and various other social sectors.
What can be more manipulative; allocation for social sector was a mere Rs.50,000 crores, compared with total subsidies granted to the ‘rich beggars’ and corporate lobbyists, which stand at Rs.500,750 million, Rs.537,680 million, Rs.22.3 billion on various subsidies, export promotion schemes and customs and excise exemptions, respectively.
To reduce indebtedness of farmers, FM had put up a provision of increasing bank loans to Rs.22.5 billion and also to cover an additional 50 lakhs peasants. But then, why – even after such a huge farm credit in the agriculture sector – there is no stopping the farmers’ suicides? The budget did have a provision for a five year tax holiday for multi-star hotels in Delhi & NCR keeping in mind the approaching 2010 Commonwealth Games (the progress for which is again not up to expectations). Moreover, the budget did offer Rs.5 billion plus various tax exemptions to the corporate houses, but didn’t find it important to spare sufficient resources for social sectors. Isn’t it a gargantuan waste of taxpayers’ money? According to the Education For All (EFA) Global Monitoring Report 2008, India is one of the 25 countries that are far from achieving the goals of the EFA. Studies show that condition of malnutrition and sanitation in India is worse than in some Sub-Saharan African countries.
Even total Union Government spending has significantly decreased (as a proportion of country’s GDP) in 2007-08 compared to 2006-07. There should have been an increase in the Plan expenditure component in order to endow India with ample resource support for critical development to sectors like agriculture, employment, health and various other social sectors.
What can be more manipulative; allocation for social sector was a mere Rs.50,000 crores, compared with total subsidies granted to the ‘rich beggars’ and corporate lobbyists, which stand at Rs.500,750 million, Rs.537,680 million, Rs.22.3 billion on various subsidies, export promotion schemes and customs and excise exemptions, respectively.
To reduce indebtedness of farmers, FM had put up a provision of increasing bank loans to Rs.22.5 billion and also to cover an additional 50 lakhs peasants. But then, why – even after such a huge farm credit in the agriculture sector – there is no stopping the farmers’ suicides? The budget did have a provision for a five year tax holiday for multi-star hotels in Delhi & NCR keeping in mind the approaching 2010 Commonwealth Games (the progress for which is again not up to expectations). Moreover, the budget did offer Rs.5 billion plus various tax exemptions to the corporate houses, but didn’t find it important to spare sufficient resources for social sectors. Isn’t it a gargantuan waste of taxpayers’ money? According to the Education For All (EFA) Global Monitoring Report 2008, India is one of the 25 countries that are far from achieving the goals of the EFA. Studies show that condition of malnutrition and sanitation in India is worse than in some Sub-Saharan African countries.
Source : IIPM Editorial, 2012.
An Initiative of IIPM, Malay Chaudhuri
and Arindam Chaudhuri (Renowned Management Guru and Economist).
and Arindam Chaudhuri (Renowned Management Guru and Economist).
For More IIPM Info, Visit below mentioned IIPM articles.
Zee Business Best B-School Survey 2012
Prof. Arindam Chaudhuri’s Session at IMA Indore
IIPM IN FINANCIAL TIMES, UK. FEATURE OF THE WEEK
IIPM strong hold on Placement : 10000 Students Placed in last 5 year
IIPM’s Management Consulting Arm-Planman Consulting
Professor Arindam Chaudhuri - A Man For The Society….
IIPM: Indian Institute of Planning and Management
IIPM makes business education truly global
Management Guru Arindam Chaudhuri
Rajita Chaudhuri-The New Age Woman
IIPM B-School Facebook Page
IIPM Global Exposure
IIPM Best B School India
IIPM B-School Detail
IIPM Links
IIPM : The B-School with a Human FaceProf. Arindam Chaudhuri’s Session at IMA Indore
IIPM IN FINANCIAL TIMES, UK. FEATURE OF THE WEEK
IIPM strong hold on Placement : 10000 Students Placed in last 5 year
IIPM’s Management Consulting Arm-Planman Consulting
Professor Arindam Chaudhuri - A Man For The Society….
IIPM: Indian Institute of Planning and Management
IIPM makes business education truly global
Management Guru Arindam Chaudhuri
Rajita Chaudhuri-The New Age Woman
IIPM B-School Facebook Page
IIPM Global Exposure
IIPM Best B School India
IIPM B-School Detail
IIPM Links
