Ever since this budget was read out by the FM, I have been
showing my anguish…. Perhaps that has given impression to all my friends that I
am furious because of the re-introduction of LTG i.e. Long Term Capital Gains
tax.
No, that is not correct.
In fact as a student of economics, I must say that this was
a very good budget in the theory perspectives….it is always good for economy that
the government spends on the people at large, to improve their standard of
living by giving them good education, healthcare, enhanced income…and to cover
these spending to pull money from those who can afford to shelve a bit….
What irks me is that he hardly has any time to prove and
fetch the fruits out of this budget….
Modi should have emphasised on executing and delivering on
the policies that he has been formulating over last 3 odd years rather than
again prescribing new policies…..
The question is where is the execution??
He can’t expect to win elections only by selling dreams all
the time….
That’s why I say that he and his FM have become too overoptimistic
rather I would say arrogantly overconfident of winning the election. They feel any shock will be absorbed by the
people quietly…
He should have given balanced budget by giving some tax
relief to both individuals and corporate and put more stress on the execution
of his earlier policies, this year.
Ideally this particular budget should have been Modi’s first
budget after winning the next general election….LTG as well as no tax relief
would have got absorbed….and also he would have got next full term to show results to the world and certainly win the
subsequent election too.
If you ask any sound
economist to evaluate this budget neutrally, then FM is most likely to get 8/10
marks. Because it is indeed a good
budget for India’s overall growth, if everything is executed adequately then we
shall see the results over next 3-4 years….but then perhaps the credit will be
taken by the next government!!
Though I am not a big fan of our politicians, I strongly
feel that as on today if there is any one politician in India who can do good
for our country then its Modi. It would
be unfortunate for our country if Modi doesn’t get another term!!
That’s why I say that if at all Modi has to lose next
election then this particular budget was the last straw on the camel’s back….
