india tweets

join in!

Showing posts with label public finances. Show all posts
Showing posts with label public finances. Show all posts

Budget - An annual farce

We have an annual ritual of presenting the annual budget of the Government of India on 28th February every year. Apart from presenting the accounts of the GOI, the budget has gained a level of importance far beyond what it deserves.

It has become the arbiter of our destinies and a dispenser of largesse to that group which danced and grovelled the best. It carries the ever-alive threat of additional taxes. Crumbs are thrown to the common man,  fancy jargon quoted as a measure of impressive success.

Today's budget has been no different. It perpetuates the practice of fudging accounts and window dressing them. One is led to believe that all is well.

When India eventually achieves its destiny as a economically advanced nation, the people of India need to be applauded and not an insipid and unimaginative Government.






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.

Blog Archive

Recent Comments

Powered by Blogger Widgets