The Modern Rationalist – July 2019

No scheme to eradicate unemployment

Many youths and graduates, who are in sheer

vex and poverty rightfully expected some

solution for their future. It was assured to double

the farmer’s income. No definite substantive

pronouncement was made but to sustain the

suffering with tears and agony.

Nearly half of the country’s terrain suffers in the

shackles of drought

Financial allocation, minimized for farmers

‘Prime Minister’s Kiran Yojana’ envisaged

minimum support price for agricultural crops

in the interim budget. No concrete measures

were announced for that in the budget.

The presently announced allocation of Rs

75000 crores is not sufficient to be disbursed to

all the farmers. The data show that the financial

requirement for small and marginal farmers

itself amounts to Rs 87000 crores.

The leader of BJP affiliated Bharatiya Kisan

The finance minister while presenting the

budget for the current fiscal stated that

there would be an increase of Rs.2 per litre

in the prices of petrol and diesel. It was

announced that the burden component

comprises of Rs.1 per litre increase in the

Special Additional Duty (SAD) on petrol and

diesel and a Rs.1 per litre is in the Road and

Infrastructure cess on the fuels.

Later the revenue secretary of the

Government of India said the current finance

bill includes in the increase the ceiling that

can be levied on both the duty and cess as

per the clause 185 and clause 201 of the

Finance Bill. Enhancing the ceiling on the

leviable duty and cess would add up to the

cost of petrol and diesel further by Rs.5 per

litre.

While presenting the budget the finance

minister has conveniently avoided the

mention of ceiling increase on duty and

cess. What was palatable was spelt out. Yes;

it is just sprinkling of spices on the food that

was not properly cooked not reckoning the

real welfare of the common man.

Union, Mr. Dharmendra Mallick himself is
critical of non-reckoning of country’s growth
by the finance minister in the budget.
The former governor of Reserve Bank of India
has raised doubts on the authenticity of the
data on the economy of the country.
The financial allocation for Mahatma Gandhi
Rural Employment Guaranteed Programme
(MGREGP) has come down to Rs. 60,000 crores
from the revised estimate of Rs. 61,084 crores.
Still worse!
In the budget presented by the woman finance
minister, the share of financial allocation for
women development and empowerment has
deteriorated from 5.1 percent to 4.9 percent.
Cascading Impact of Tax Burden on Petrol-
Diesel
The addition taxation in the forms of cess and
additional duty imposed on Petrol and Diesel
would play a havoc in the lives of humble
middleclass families and definitely hike the
price of commodities by the net effect on the
increase in freight charges.
Mere massive announcements but clearly
without revenue augmenting modes!
In fact the announcements are alike mirage
which is never accessible.
Both private sector and corporates jubilate on the
budget, for whom the budget announcements
are beneficial.
Is it wise to cut the Golden Goose?
Disinvestment of PSUs – that too good profit
earning concerns is similar to killing the golden
goose to obtain more number of eggs .How is it
possible? The budget was expected by the poor
and the poorer as kindling light in their everyday
life, but resulted in total disappointment.
Instead of the already proclaimed ‘Minimum
Government Maximum Governance’,
authoritative governance of the State is
prominently blatant in the budget.
FDI is a challenge to Sovereignty
By opening the flood gates of FDI 100 by 100
with enormous concessions, the very economy
and sovereignty of the State would be at stake.
Danger is ingrained; it is painful deep. Let us
wait and watch!
The Modern RationalistJuly 2019