The headline in the Times of India caught my attention on recently concluded Union Budget of 2010 presented by dear Pranab Babu ! I am neither an economist nor an industrialist nor a neta or a opposition member to make considered opinion, but as a common citizen of this great country like many others I have some views to share after having digressed various aspects of this budget. I remember way back in school when democracy was defined, we were referred to the famous saying of Abe Lincoln, "Democracy is of the People, for the People and by the People" ! And we all know and are often reminded that India is a great democracy. If we go back in the history of this country, from ancient time, we have that fervour in our culture as we adopted several distinct regional cultures, languages and also religions and adapted well with time, both good and bad. But, the axiom "Prajarajya", which I believe, is true concept of democracy, as depicted in earlier era of great kings, emperors, badshahs is still not reflected across this country of a population over a billion.Still large no. of population is below poverty line and most are under privileged without food,shelter and clothing apart from basic rights of an Indian citizen like health, education and employment. Over six decades passed since our Independence, but we are still to mitigate the basic needs of our large populace in villages and country sides including urban poor, who migrated to metros and cities in quest of these amenities. In this context, I like to appraise the Budget, whether it has addressed these aspects and other burning issues of the country adequately and honestly. The compulsion of the Finance Minister is well understood as he ( so far there has not been any 'she' in spite of so many capable front ranking women in our country) has to do a balancing act by providing impetus to growth, hold on inflation and control fiscal deficit while meeting the expectations of all interested of groups, who have been lobbying for their individual segments of enterprise. It is said that every rupee our Govt. spends needs the approval of all citizens, who are truly the shake holders of this country. In our democratic set-up, it is done through the elected members in the Parliament and hence the budget is presented in that august house once in a year. This is also an exercise we have picked up from past British regime. Unless we have loyal and conscientious representatives in the Parliament, this may be a mere annual exercise rather than setting right policies and consequent impetus to actions for implementation of the plans. Even the intent in the Budget may be good with a vision for welfare of the mass, but it can hardly yield effective results unless implemented truthfully to the hilt.
