Raju.G. Mendez
E. for Employment and Education
M for MSMEs
P. for Productivity
L for Land
O. for Opportunity.
Y for Youth,
M for Middle class
E for Energy Security
N. for New Generation Reform,
T. for Technology.
An acronym of the budget. ‘EMPLOYMENT’ was envisioned and delivered by Finance Minister Sitharam in the Lokh Sabha in 2024.
Is this embodiment, wrongly placed in front of the ill-informed of the country and its removal therefrom quintessential? The question raised to the government of today to arrive at an objective satisfaction remains a matter of concern for the people of Indian states constitutionally federal in nature.
The groundwork for every budget involves a fair deal of planning by the Minister for Finance and the government in power giving meticulous attention to the ground realities, not to say, the matters related to economically challenged people in general.
However, once the delivery of the budget is over,, one has to be extra cautious with his own understanding of the promises of provisions in the budget, beware of every move between the gain and loss being confined within the declarations, ensuring the well-being and welfare, of the people, leading to the sustained development of the country
In this context, the budget 2024 presented by the Central Finance Minister shocked and intrigued many, except the ‘Big Bulls’ belonging to the corporate world.
Every fifth year, after the induction of a new government either in Lok Sabha or in the Assembly, we are made to learn the exercise of complying with the phenomenon of budget declared by the central or state Finance Ministers, a celebration for the politicians, media, and those peer up with searching eyes.
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We, the general public, before heading ourselves would, as a customary exercise, spend a considerable amount of time discussing the pros and cons of the budget and equip ourselves to protest or comply with the closure of expectations.
This would happen to people on both sides regardless of affiliation to the Governing or the Opposition party. We would garner arguments in support of our stance and share the same with those who value budget having a significant role to play. We come up with arguments of those who oppose our views. But very few resort to non-partisan sources of information, that lead or mislead us to destinations we look forward to.
Introspectively, about the reactions that followed the July 24 th Budget presentation, many of us showed gestures of disappointment, the morale of certain groups tarnished being not able to regain composure and yet another group remained indifferent as if they seemed least affected by the budget and carry forward with their routine deeds of earning their livelihood. But none of these either contentments or resentments, are taken into consideration seriously. By those who formulated the clauses of the budget, seems a paradox.!
Reactions from the people, economically, industrially, corporately,, and socially well aware of the breakthroughs and setbacks of the budget, would not much hesitate to point out how undemocratic and non-representative the budget is, being offered by the Finance Minister, intended to build up our future life of dignity and prosperity.
There has been little change in terms of expectations on the sectors developmental in nature for some of the states envying upon others, to realize their dreams into reality.
The common men mostly, privy to information regarding the intricacies involved in the budget, are invariably, later shared with them by the higher-ups. The truth is that the provisions offered or the denial of them in the budget, often get distorted by the second-hand information, imparted to the less informed,by those in positions of power, or maintain a close affiliation to the government, or the endless speeches of politicians during party congregations to shape a narrative that suits their interests.
A budget may include anticipated sales volumes and revenues, resource quantities including time, costs, and expenses, environmental impacts such as greenhouse gas emissions, other impacts, assets, liabilities, and cash flows. Companies, governments, families, and other organizations use budgets to express strategic plans of activities in measurable terms, and taxes incurred.
But how many of us are inclusively aware of all these factors that play a pivotal role in the day-to-day life of our power of purchase that act between earning and spending?
Do we know the tax incurred from the dealings right from the purchase of ‘salt to camphor?’
How many of us are friendly with the theories of economics that go in zink with practical life.?
The questions should be answered by those responsible, in order, for the people, either to celebrate the firmness of it or remain unsung of its worth.
