The top-20% take everything away & in turn leave the bottom 80% with nothing, forever placing them at a serious disadvantage. In a democracy like ours, if this does not get upturned, the budget loses its essential quintessence...
Before the honourable Finance Minister Mr. P. Chidambaram goes on to deliver another of his Union Budget speeches (this is his seventh) on 29th February, 2008, isn’t it reasonable for him to introspect in retrospect what have been the effects of his previous seven budgets on the Indian economy? Isn’t it essential for a Finance Minister to know whether his previous budgetary initiatives have been instrumental in pulling out even one Indian out of the millions from indigence and insolvency? Isn’t it fair common sense to find out how many new children have got admitted to the various schools across the country? Doesn’t it make sense to ask how many mothers are still dying in this country while giving birth; or for that matter, how many of his countrymen are still dying of curable diseases like TB and malaria? For all the budgetary allocations that have been announced over the years, isn’t it significant to know how many young Indians still stand productively disengaged, devoid of any essential human capabilities and developmental capacities? Or for that matter for all the budgets that have been allocated over the years, isn’t it imperative to take stock of the status of our senior citizens, people of special needs, Dalits and women? And finally, isn’t it most urgent to know what has been the status on justice delivery - the bedrock of democratic India?
If a Finance Minister, guided by conventions, does not feel that it is his job to take a stock of all these strategic socio-economic outcomes, then there’s no point in the entire budget exercise. Even if a Finance Minister defies all conventions and makes an attempt to take stock of the aforementioned parameters and does not find convincing improvements, then too, there is no economic rationale to continue the budget exercise in its extent and entire versions. For it has been long that politicians of this ministry have been aiming at power, and power without any responsibility. It’s important for policy makers to realise that the Union Budget is a national exercise, wherein each and every citizen contributes to its fund, in form of taxes (direct and indirect) and thus it should be an exercise wherein the benefits should encompass each and every citizen’s life in a definite and proportionate fashion. The crude fact is that in the present budgetary framework, the top 20% of the society take everything away and in turn leave the underprivileged bottom 80% with nothing, forever placing them at a serious disadvantage. In a functional democracy like ours, if this does not get upturned, the entire budget exercise loses its essential quintessence.
Before the honourable Finance Minister Mr. P. Chidambaram goes on to deliver another of his Union Budget speeches (this is his seventh) on 29th February, 2008, isn’t it reasonable for him to introspect in retrospect what have been the effects of his previous seven budgets on the Indian economy? Isn’t it essential for a Finance Minister to know whether his previous budgetary initiatives have been instrumental in pulling out even one Indian out of the millions from indigence and insolvency? Isn’t it fair common sense to find out how many new children have got admitted to the various schools across the country? Doesn’t it make sense to ask how many mothers are still dying in this country while giving birth; or for that matter, how many of his countrymen are still dying of curable diseases like TB and malaria? For all the budgetary allocations that have been announced over the years, isn’t it significant to know how many young Indians still stand productively disengaged, devoid of any essential human capabilities and developmental capacities? Or for that matter for all the budgets that have been allocated over the years, isn’t it imperative to take stock of the status of our senior citizens, people of special needs, Dalits and women? And finally, isn’t it most urgent to know what has been the status on justice delivery - the bedrock of democratic India?
If a Finance Minister, guided by conventions, does not feel that it is his job to take a stock of all these strategic socio-economic outcomes, then there’s no point in the entire budget exercise. Even if a Finance Minister defies all conventions and makes an attempt to take stock of the aforementioned parameters and does not find convincing improvements, then too, there is no economic rationale to continue the budget exercise in its extent and entire versions. For it has been long that politicians of this ministry have been aiming at power, and power without any responsibility. It’s important for policy makers to realise that the Union Budget is a national exercise, wherein each and every citizen contributes to its fund, in form of taxes (direct and indirect) and thus it should be an exercise wherein the benefits should encompass each and every citizen’s life in a definite and proportionate fashion. The crude fact is that in the present budgetary framework, the top 20% of the society take everything away and in turn leave the underprivileged bottom 80% with nothing, forever placing them at a serious disadvantage. In a functional democracy like ours, if this does not get upturned, the entire budget exercise loses its essential quintessence.
Source : IIPM Editorial, 2012.
An Initiative of IIPM, Malay Chaudhuri
and Arindam Chaudhuri (Renowned Management Guru and Economist).
and Arindam Chaudhuri (Renowned Management Guru and Economist).
For More IIPM Info, Visit below mentioned IIPM articles.
Zee Business Best B-School Survey 2012
Prof. Arindam Chaudhuri’s Session at IMA Indore
IIPM IN FINANCIAL TIMES, UK. FEATURE OF THE WEEK
IIPM strong hold on Placement : 10000 Students Placed in last 5 year
IIPM’s Management Consulting Arm-Planman Consulting
Professor Arindam Chaudhuri - A Man For The Society….
IIPM: Indian Institute of Planning and Management
IIPM makes business education truly global
Management Guru Arindam Chaudhuri
Rajita Chaudhuri-The New Age Woman
IIPM B-School Facebook Page
IIPM Global Exposure
IIPM Best B School India
IIPM B-School Detail
IIPM Links
IIPM : The B-School with a Human FaceProf. Arindam Chaudhuri’s Session at IMA Indore
IIPM IN FINANCIAL TIMES, UK. FEATURE OF THE WEEK
IIPM strong hold on Placement : 10000 Students Placed in last 5 year
IIPM’s Management Consulting Arm-Planman Consulting
Professor Arindam Chaudhuri - A Man For The Society….
IIPM: Indian Institute of Planning and Management
IIPM makes business education truly global
Management Guru Arindam Chaudhuri
Rajita Chaudhuri-The New Age Woman
IIPM B-School Facebook Page
IIPM Global Exposure
IIPM Best B School India
IIPM B-School Detail
IIPM Links
