Now, we are in the financial year 09-10. The most awaited big economic happening has take place. Yeah, it is the budget, budget for the year 09-10. There are many reviews popping up for this budget. In this juncture, as an economy interested person, I taught of giving my views to my readers.
I echo the views of many people. I do say this budget is a total non sense. I will explain my points to you with the current economic happening itself.
1) As soon as the budget was announced the stock exchange fell. Do you know why? It was not given proper attention in budget. It seems F.M forgot stock exchange rates the countries financial strength and credit rating in some way are other.
2) The taxes on the price of luxuries were reduced. Do you think this is a good move? On the first instance it may seem so but not is my point. When you reduce taxes on luxuries even a lay man who cannot afford to buy it will push himself for it. He may adopt for loan are something which he will be repaying with interest. Means most of his salary is used for the luxury.
3) The daily use Dahl’s and other substance rates are highly increased. Dhal which was costing nearly Rs.50 has now come to Rs.70 plus. I feel even Rs.50 is high but now it’s Rs.70, which is too high. Here I would like to say you one thing guys, you know what, all eatables in Australia is very cheap so that every common may can consume it, every luxury is costly which can be consumed only if you push your self’s hard for it.
Another big point is that this is first time India has prepared a budget for Rs. 1020838 Crore of Rupees. I don’t understand one major thing, that’s having a huge sum of deficit what is this government going to do? Increase tax amount? In that case what is the cause in reducing tax rates now? Whom is this government trying to fool?
Government cannot print notes for the deficit because it will spoil the value of the currency of the nation. I have another few more questions
When the last budget was presented the deficit up to which a note can be printed was 2.5%, why it was suddenly raised to 6.5% this year?
I don’t know the answer for my questions but am sure, nothing is clear in this budget. I term this budget has unrealistic, ambiguous useless budget. This budget is only favoring high class people and it has no schemes of improvement for the lower middle class are middle class people.
