Budget 2011 - Just another ordinary accountant's script

Our 2011 will have the same effect as previous one,because very time they increasing the petrol and diesel rates enormously which will effect the every sector of the people and it leads to a huge impact of rate increase essential things,Oil&gas rate should be in control it decides the cash outflow and inflow of budget,already they submitted many budget but they not identify the exact value.so they are submitting the accountant"s script or number.

According to me this budget is not by my expectations.
and in a line i can say that, this budget is 
                               "long on promise but short on delivery" 
finance minister did no. of promises but not done for them like ......
1) NO GOODS AND SERVICE TAX Implementation.
2) NO DIRECT TAX CODE Implementation
3) No Banking Reforms 
4) No amendment on Insurance Reform bill 2007
5) NO amendment on LIC BILL
6) Not on SERFAESI ACT 2002
7) NO IFRS Implementation
8) Nothing for the Black money.....
9) Nothing for controlling Inflation which is the major concern
10) even nothing for current Account Deficit (govt. fill this by Disinvestment)
   and it is just like ...selling fixed assets for paying the operating expenses ....
.
so shilpa i think there is nothing in this budget .......
By :- VIPUL JAIN 
PGDM (FINANCE SPECIALIZATION) 
ACCMAN INSTITUTE OF MANAGEMENT.

Sorry friends for me being a pessimist when it come to the plans of country's progress.
I cannot agree more with Mr. Mathew Cherian about my poor perspective of politics, being a technologist. 
Let me explain how I view it in the business thinking of a technologist. Mere arithmetic of overall growth of the country does not mean much unless it is spread usefully across the population. Dubai had been growing over 26% during the past decade, but look where the country's economy stands now? 

I do not disagree that the UPA is honestly trying its best. 
But allow me to put forth my view as a technologist see it, of Year 2020 vision. Let us take a moderate fiscal input of Rs.24 lakh per capita expenditure for the uplift of 7500 lakhs of poor in the country spread across next 8 years needed. 

It works out to Rs. 225,00,00000,00000 in an annual budget. Now somebody can work out and tell me how many Crore it is, and then compare this with the provision being made now in the budgets for the development plans aiming to remove the economic imbalance between the rich and the poor in the country. 

You are right in asking from where that sort of the money will come from. Not by burdening people with more taxes, of course. India has enough money in private hands and Government need to work out effective ways to bring in Public - Private Partnership in nation building process by which the private industry also can thrive. 
The first step is to bring in more transparency in governance and remove the negativism around that discourages private investment. 
The attitude of Indian media is pathetic and also need to change a lot in that direction.

Budget ? What Budget ??

Abraham Sir, I also don't understand with your exceptional-expectation from any budget now. As we open up our markets, we already don't depend on Govt. to finance all growth schemes. Corporates are happy with it and we should be happy as business is getting a boost. Employment will come to us is guaranteed. Human resource will thus be utilized. 

On rural and agriculture based projects, or on infrastructure, we can now see a reversed process. People are voting out non performers. Bihar showed us that. Budgets are not even election manifestos now. We want growth and we will have it.

I was just thinking in terms of taking a corner in order to observe every knowledgeable remark on on Budget - 2011, being put forward by my learned friends. I frankly confess my inability to be parallel to most of such thoughtful contents. Thanks to Govt.of India for being very much concerned with accountability of the contents and aspects of the budget, but simultaneously I'm at at a loss to understand the process in which all the budgetary amendments and allotments are going to be made effective for the people who really need assistance from the Govt. that communicates only through some political party leaders. Price hike continues to be threatening the economic peace of the mediocre and the Govt. seems to be visibly unable to solve it. The question of less-educated or uneducated persons who are certainly not entertained by the banks or any financial institutions, are in deep water.  Knowing that generation of extra income invites inflation, I remain confused to make out the objectives of the Budget - 2011 that promises to give stress on increasing the level of employment. Is the budget-2011 designed for specific class of people? Who are entitled to reap the benefits of the budget? Is the budget prepared by the persons in the ministry carrying hopes for those who are still left to hedge around? I shall remain thankful to my friends bothering to eliminate my confusion.     

Govt has given you all the allowances & concession that's possible to the mass as much as possible. It is you to tape the potential and grow with it. It may be an another accountants job but Govt needs to enact it routinely. It is his job also. No cry on it.

It has given ample scope to provide Infrastructure .Also to Agriculture & social welfare of people. Taxes are to be used for its people.It is wisely reflected for ordinary citizen.

WEATHER THE F.M HAS CUT THE CLOTH ACCORDING TO THE COAT OR COAT ACCORDING TO THE CLOTH IS A WAIT AND WATCH GAME.THE ECONOMIC PARADOX (I.E) "WHAT IS TRUE FOR ONE INDIVIDUAL NEED NOT B TRUE FOR THE ECONOMY" IS VERY MUCH ALIVE. IN SIMPLE TERM IT LOOKS VERY ORDINARY WITHOUT ANY CLEAR CUT FOCUS ON FUTURE 

Shilpa thanks for referral. The Finance Minister is doing a balancing act. He knows his job well I think. 

Who can point out at the ability of Mr. Pranab as a Finance Minister.   It is not the question here. One should agree that he has no free hand on it.   Political compulsions more than the welfare of the land has its effect on the budget.  Elections to 5 state assemblies are fast approaching.  UPA Govt. tried to project a budget to please every one and all.  Unfortunately what is lacking is constructive stand.  They are aiming for short term gains, ofcourse not from the people's perspective anyway.  Economy may be recording around 9% growth, India as a nation marching ahead, but the conditions of more than 70% people of this land is still at cross roads.  Inflation is recording its high.  The prices of essential commodities are nearing to touch the stars in the blue sky.  Disguised employment is still ruling the agriculture sector.  There is nothing for the development of agriculture sector in this budget. There are much expectations from F.M. He failed to reach the expectations of the common man with this budget.

Mr. Pranav Mukharji has put in all 6 budgets, so he might be known to every financial aspect of our country.
Mr. Mukharji, tries to satisfy each & every Indian by putting 2011-12 budget, so we shall give him at least 5/6 months so that we come to know, whether he succeeded or not?
On personal front, I am not happy as hoping something more for our real estate sector,but couldn't get it.

i feel this topic is one-sided as this is just from the point of view of 1 person. let all give their views on this toppic, if they wish to

Please i request all toostep users, not to make it an issue. What our FM finds in favor, he did. Dont blame the budget 2011. Our PM is observing the budget related matters very frequently and no doubt he is an expert. 

Very sorry to say but its irrational and politically incorrect. And I think, our FM is far better visionary and intellectual. And none can raise a question on the economic front of India's progress. Aren't we growing at 8.9 GDP? Aren't we the second fastest growing country in the world? Aren't the super powers struggling to get entries into Indian markets? Are we in severe recession like EU and USA? Sorry for my harsh comments but that's how I felt it. Comparing the great FM's budget with "Accountant's script" is baseless. Its more like a political article than an analytical one. 

Yes our country has huge economical potential as we have all the vital & vibrating factors with us,,,also enormous wealth is been created & still vast gasps are there,,problem is propriety & intentions...in simple business terms,,,a corrupt organizational set up,,that too from top to bottom,,,won't help in any policy execution howsoever lucrative they look!  

Being a technonlogist more smarter than one who plays with finances of a country your lack of bearing on the strucutures of economic management is understandable. A country cannot spend more than it gets, like a human cannot spend more than he earns. So the only way a countries assets can be enhanced to produce more is by enhancing the 'wealth of the nation' which moral philosophers like Adam Smith directed us to do. Countries that follow his direction get into situations where your needs one you talk about gets done. "Without a scale one cannot create a straight line" so is economic directives and scientific predicaments.
A government that cannot work to create savings for themselves cannot spend as if the resources has no end in coming to them. So wealth creation for the nation should be their prime motives all others will follow. Wealth, welfare, social isurance for each citizen with lots of other moral direction will do the trick, not just speculations in economic thinkig. Thanks.