Big Budget

For last two weeks the Indian television has been airing Budget stories like there is nothing happening apart from budget in World. There is growing importance of economic stories and Indian Television has been at the forefront of telecasting the same.

Every channel is competing to give the analysis of each word in Finance bill giving look from 0 to 360 degrees, with some mass channels like Aaajtak and Janmat failing to serve the audience with crisp stuff... Aaajtak has been servicing the business stories like chole without salt in it. They present each story giving it mass appeal without really bothering to put enough energies on content... Let me tell you with an example their headline "Ice-cream, Car hue saste and Cigarrte hua mehnga... They can't elevate themselves from these flimsy stories...

Coming to the Budget, in my opinion this 3rd budgest from Chidambram was first budgest in recent times was without new announcements. The whole emphasis was on continuing the existing schemes... In Chidambaram's words (Budget was about Consolidation and rationalization).He is good at rationalizing every thing J (remember last year’s Tax Exemptions and Rebates Overhaul.

This Budget had many new things unlike previous budgets like :>>>
There was no rollback of any announcements (any ways not many announcements were done…)
No announcements of populist schemes(By the way, the biggest populist scheme "Bharat Nirman was already announced in the last budget)
No real opposition from Opposition Parties except Left(which any ways sole purpose to be on always on wrong side of road, as their name itself suggests)

Some steps which were not new and were expected to be part of budget:
Increased taxes on Cigarettes
Increased Service tax from 10 to 12%
No announcements on Disinvestment.

The step to reduce excise on small cars was a positive step as it will make cars more affordable to Indian Middle Class and also deepens strength of Small Car manufacturers like Tata Motors and Hyundai and not mentioned Suzuki Motor Corp.

But this budget could have achieved much more than what was done. These were the missed oppurtunities:

Announcement on Framework for Reduction of LPG subsidies could be done.
Announcement on having Health cess on lines of Education cess could have been done to provide world class health facilities at least in all state capitals and major cities of each state( so that we can achieve world class Health facilities similar to world class Infrastructure and Roads with NHDP project under way)
No announcement on bridging the gap between Small saving rates and bank rates.
Announcement of new Greenfield airports.
Not enough push for Electricity Transmission and Distribution and not to mention the utter neglect towards Generation.
This was the time when India’s image is improving around the world Tourism could have been given boost by giving tax holidays etc. Point to remember is that Tourism is the untapped sector which holds potential to give jobs to millions of Young Indians as IT has been doing.