Indian Budget for 2009-10

The Budget for the FY 2009-10 appears to be common man friendly; but the ultimate result will be that the common man would not benefited as expected. The only marginal benefit given to the common is increase in Income Tax limit by Rs.10,000/- and Rs.15000/-. This benefit will go only to income tax payees. What about the upliftment of the people BPL? Whether the IT limit is increased by 10,000/- or 100000/- the BPL category is not going tobe affected.

The agricuture sector is given a boost with the credit flow of Rs.3,25,000/- crores during the FY. If the poor farmers i.e. marginal farmers are benefited the purpose is served. But it is not going to be so. As per the claims of the politicians most of the ministers, MPs, MLAs are farmers. The claim they are from rurual background. Whatever subsidy, concession facilities are extended tothe agriculture and rural sector would be utilised by the so called 'agriculturists'. The real farmers would get only a negligible per centage.

Further short term crop loan to the maximum of Rs.3,00,000/- is being contemplated. Here again the elite caegory of agriculturists would reap the benefit. The farmers with small land holdings would demand the maximum amount for his farming purpose, thought actually they may not require that much. The politicians would exploit the small farmers and utilise this opportunity to augment their vote bank. The scape goat for this agriculture credit is the bank Manager. Having tasted the benefit of writing off the agriculture loans in the past as well at present, the farmers know well that one day or other the Government would write off their loans. There would certainly a lot of NPAs in this category. Bank Managers/Officials would face the fiddile by way of chargesheets, suspensions, punishments, and dismissals. This viscious circle is going on for decades and will continue in the years to come. Unless the Government take strict action against the defaulters, with the exception of draught situation, the tax payers money would go to the gutters. Here again the rich farmers, read politicians, gain the benefit. Howmany people are having landholdings in benamy names! Do you agree that the Budget is pro poor man.

Secondly the Industrial Sector is not provided with adequate boost, except maintaining the same corporate tax level at the same level. The financial market has crashed already on the eve of Budget. What is the use of reducing the price of mobile and LCD? Whether 'Aam Aadmi' is benefited except he uses the cell phone. Whether the tariff is reduced? or by his using the cell phone the economy is going to get a boost. Howmany common man is having LCD? Only the media and the influential personalities would hail the Budget as common man's budget, but who is the common is the million dollar question.

Comments or criticism is welcom.