This year's Budget has been lauded from almost all quarters with high ranking for some bold initiatives, impetus to growth, deregulation, disinvestment plan, large infrastructure outlay etc.In short, for taxpayers, tax slabs are widened with some relief in taxes; for consumers, some products have been cheaper while fuel oil like petrol and diesel have been costlier as subsidies being curtailed, air travel, cigarettes,car, gold etc will cost more ( which is considered for privileged classes still and some vice discouraged) ; for businessmen and industrialists, surcharge on corporate tax is reduced; for investors, impetus is given by deduction of taxes on investment of infra. bonds etc. As anticipated by all, this budget has made larger provisions for expenditure in social sectors like roads, healthcare, rural jobs etc The FM has kept fiscal deficit target at 5.5% as unaltered, while sent out his optimism to anticipated growth rate of 8-9%, which we all believe in now achievable in near future. On agricultural sector, he has stressed on agro-processing and reaffirmed his commitment to direct tax code and GST, which could have been expedited. So, overall impact of the budget is growth oriented with large outlays on infrastructure development and social welfare, which is why, the Govt. is propagating in "inclusive" vision for the country. So far, it is all great in words and also probably in spirit, keeping in mind political agenda of the party in power while eyeing upcoming state elections. It is no doubt a good budget with general reactions from all quarters. But, there is a major factor for its success ! That is "implementation". Majority of social welfare schemes and large investments of public money in infrastructures in the past are found to be inadequate at the end, as the benefits fail to reach the target mass, since implementation fails with rampant corruption, lethargy and red tapes in the beaurocracy, the government machinery and above all, among canny and corrupt politicians. The nexus of unclean businessmen, contractors, builders, middlemen with the netas is so strong, we still have a parallel channel of black money. Unless, the Government of the Day is bold and honest enough to uproot these evils from our midst, good intention will remain captive in words, but never be realized through proper implementation at grass root levels. Hopefully, this impasse will change with time !
