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| Businessmen unhappy, economists say don’t read much in interim budget | | | Early Times Report
Jammu, Feb 16: The last but interim budget of the United Progressive Alliance government has though laid emphasis on the flagship schemes but the announcements have not brought any cheers in Jammu and Kashmir. However, the economists have put it right: “there is nothing to be read much in this interim, the real budget will come after the Lok Sabha elections”.
Talking to Early Times, Prof. Nissar Ali, an economist of national repute said that this is an interim budget and a vote on account. There is nothing new in this budget. As we know, the world is facing recession and the country is facing partial recession. There is good amount kept for security expenditure and good subsidy is given to agriculture sector. It has also touched National Rural Health Mission, child welfare and midday meal. Overall, there is nothing new in this budget.
Prof. A.K. Sadhu, former head, Deptt. Of Economics, University Of Jammu, said that this is a review of last one year achievements in particular and last five year in general. It was a review exercise and an expression of the achievements by the UPA govt. at the centre. This was a functional requirement, the real budget will be after Lok Sabha elections.
Mrs. Kusum Tickoo, principal, Gandhi Memorial College of education, said that this budget is not a common man’s budget and there is nothing new in it. It is just a review exercise and also a functional requirement. On education sector, they have provided certain plans. There should have been much more than this, she added.
Prof. Nirmal Kamal, Deptt. Of economics, Jammu University said that it is a very normal budget, no revenue returns and more emphasis is given on Defence and Agriculture. The govt. has failed to give anything for common man as they give last year. Many questions have also came up like why instead of 25th Feb, they presented the budget in a hurry, well before 25th Feb. It is because they wanted to please rural masses or Lok Sabha elections are nearby, she said and added that there is no serious effort. She further said that how government will bring revenue and added that govt. should curtail down their own expenditure. If we look at Railway budget, which was presented by Lalu Prasad Yadav, few days back, it shows enormous profit and we should learn from it.
Prof. N.A. Baba, political science Deptt. Kashmir University said this is a pro-farmer budget. This budget liked the defence expenditure by 34 percent in the coming year to Rs. 1,41,703 crore from 1,05,600 crore a year ago in view of the fact that security environment has deteorated considerably with the Mumbai terror strikes, giving an entirely new dimension to cross border terrorism.
Anil Suri, an industrialist, said this was just a list of achievements made by the government last one year. He further said revenue deficit seen at 4 percent of GDP, fiscal deficit at 5.5 percent of GDP in 2009-10. Finance minister has said that industry is passing a great recession and I think, there are no big surprises in this budget.
Commenting on the interim budget, President of Jammu Chambers of Commerce and Industry, Ram Sahai said that ahead of Lok Sabha polls the union government has merely completed a formality by presenting an interim budget which lacked any concrete proposals to kick start the economy facing brunt of recession. Sahai said the prices of essential commodities would rise making it difficult for the ‘aam admi’ to make both its end meet. The government has not offered any rebate to the employees by not changing the Income tax slabs. The government is also silent on the interest rates and other sops needed immediately to kick start the economy. Several housewives when asked for their crisp comment said that the Congress government is hoping to come back to power but the interim budget presented by Pranab Mukherjee has failed to impress 'aam admi'. It appears the Union government is not ready to extend any relief for the middle men. Their priorities look misplaced. Students when contacted said that the union government has presented a report card of their past performances instead of offering any package to deal with the situation prevailing in the market. We were looking up to the union government to announce some package for the unemployed youth but instead they decided to keep mum over the issue .A group of students in Jammu university said that the union government has not announced any sops for the export houses which are facing the real threat of closing down due to recession.
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