Category Archives: budget

Budget wishlist <2009>

1. Substantial increase in tax exemption limits. Not being selfish, I am The common man. We need some respite from recession and the downturn, buying capacity (from common goods to houses and properties) of aam aadmi must be supported.

2. Improved focus on reducing the fiscal deficit. Better public would say this should desirably not be done through heavier taxes; Aggressive disinvestment so seems a better option at this juncture. I have heard about 5-10% disinvestment plans in Natural gas and Oil industries. I just learnt that India pays almost a third of its revenues to interest on various loans and borrowing.

3. Immediate prop up to infrastructure, no matter what. If required let through a reasonable bail-out package to heavy metal, mining and dependent industries. This includes transport as well.

4. Education and Healthcare (likes in past so many budgets) still remain priority, sadly. Health hazards are coupled with environment imbalance. Insurance needs to be made mandatory to working classes. Self reliance (with some private help) in these sectors seems inevitable right now.

5. As in above cases, there has to be a vision shown which is backed up by intent, India so badly needs it. India needs to be careful in allotting any sort of packages to one particular industry. We also need to review our defense expenditure for once. Good that the Congress is not under pressure for pro-people budget right away, but the government needs to focus on 6 million job losses that have happened and many more that are about to.

Fingers crossed.