Monday, July 6, 2009

Budget 09

The Budget proposals announced by the FM have frustrated the genuine expectations of all sections of society viz. Common man, corporate sector and the financial sector which had risen following the presentation of Economic Survey. It is a direction less document, more of rehtoric than any concrete steps for the growth. There are no measures to control the rapid inflation,generate skills and employment, stimulus for power and reality sectors and increase the industrial production. The paltry increase of Rs.10,000/- to Rs.15000/- in personal income tax exemption is peanut compared to the mounting inflation and the rocketing prices of essential commodities.

2. Although Pranab Da did not lose his sleep over the crash of Stock Market, it does indicates the response of the nation to these proposals. How the huge fiscal deficit is proposed to be met and what are the stimulus for attracting investments are questions with blank answers. People are also sanguine about the proposed measures for rural sector as since independence these have not physically not reached the rural masses. The people feel cheated and no Cheer Leaders deployed strategically in the visual media by the powers in position succeeded in cheering the nation.

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