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Our Annual Budget Tamasha

Nations have their pet events. Ours is the annual budget tamasha conducted in February and culminates in the budget being presented on the last working day of February.

Media orchestrates the build-up.  This, however, grips the nation's imagination and life comes to a standstill on the big day. Only a cricket match or a telecast of Ramayana on a Sunday morning could achieve this.

Essentially, a "Statement of Account" of government finances, it has been converted to a "State of Union" address. It is just an exercise in how the pie will be divided up.

The wily politician, a smart businessman and the shrewd bureaucrat grab mouth watering opportunities. The large middle class laps up a few crumbs they get by way of tax sops. The poor get shown the carrot and actually get a kick on their backsides.


Anonymous said...

I agree- why so much fuss is made over it, I can never understand. BTW, why did the increased petrol prices come into force the next day? Don't they have to wait until April?

I must say, the railway budget was more interesting!

Mavin said...

All other taxes are amendments to their Acts and need approval of Parliament and are meant for the next financial year, therefore come into force w.e.f 1st April.

All excise and customs duties come into effect from mid-night of the same day. The petrol prices went up because customs duties were re-introduced.

Anonymous said...

@Mavin- Thanks- I didn't know that.

BK Chowla, said...

Statement of account, yes. But I would say it is formality to get the money disbursement sanctioned because the loot can start only after that.
And secondly, various lobbies have worked hard enough over one year to get their slice of cake.Some of us tend to miss the bigger meaning in budget speech and the big boys get away with the goodies.
In this budget, do we a sign of an effort to contain inflation?NO.

Happy Kitten said...

nd even if the budget is not for the common man, we Indians can be proud since we shall have more bilionaires :)

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