Come budget day, everyone turns into an armchair economist. I admit that my knowledge of policy making is limited but here is my take away from the Budget...
Bold - This budget goes where no budget has gone before.....
a) Universal Social Security - A comprehensive(health + life + accident cover) social security program covering a population of a billon people... think about this , we will have more people covered under social security than US and Europe put together.
b) Fight against Corruption - A new law that brings back black money, confiscates property purchased with black money, 10 of rigorous imprisonment for defaulters... In addition a law to confiscate benami property locally in India. This budget does more to fight corruption than any Lokpal bill
c) Focus on Entrepreneurship - Lower tax on businesses, low tax in income from royalties, changes in taxes to boost local production, there was never a better time in India for startups....Time is now ripe to Invent and Make in India
Beautiful - Nobody expects a philosophical touch to policy making but there is a Zen like balance that this budget achieves. Beyond the fiscal numbers , the budget promises a life of dignity
a) Swatch Bharat - Its a fact that a majority of us Indians need to relieve ourselves in the open. The focus on Swaach Bharat with the additional tax will enable the construction of 6 crore toilets. A clean and heathy India is a foundation for a prosperous India.
b) Care for the Elderly - With modernisation and nuclear families, the 150 million of our senior citizens are left to fend for themselves. Utilising the non claimed deposits in PFs to create a social pool for the elderly was a great way to ensure a life of dignity during the sun set years.
c) De-Centralization - De-centralization is the the DNA of our nation. From religion to society to businesses, de-centralization has always been the common theme. De-centralization empowers, decentralisation is the true reflection of democracy ... From Pt Deedayal Upadhyaya to Mahatma Gandhi everyone called for de-centralization as the only means to build a nation.... With 62% of taxes given back to the states and from there to the districts and panchayats, Swaraj has finally be realised.
Yes some of us need to pay more taxes via service tax but the 1% increase is a small price to pay for the greater good of the nation.
This budgets buries the communist, socialist strategies and strucutures to policy making and brings in a very Swadesi thought process ... a thought process which has its foundations in the verse from the Upanishads
ॐ सर्वे भवन्तु सुखिनः
सर्वे सन्तु निरामयाः ।
सर्वे भद्राणि पश्यन्तु
मा कश्चिद्दुःखभाग्भवेत् ।
ॐ शान्तिः शान्तिः शान्तिः ॥
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