Today the seasoned Congress leader and UPA government’s finance minister Sri Pranab Da presented the much-anticipated Union Budget 2010-11. Now it is the time for him to receive both praise and brickbat from several quarters. India is a big country having numerous issues including politics and economics. Here politics always dominates economics while formulating national policies. It is quite clear that while announcing union budget he won’t be in a position to please each one. In this critical situation of market slowdown, stumpy industrial growth, retrenchment and price rise he has chosen a middle path and tried to please everyone.

It is a balanced and comfortable budget without many inconveniences like excise hike in fuel that was much anticipated. The hike in petroleum prices is because of the recommendation of the Finance Commission, so the finance minister is only endorsing the roadmap as suggested by the Finance Commission. The outcome of this budget will start coming gradually. It is expected that the Budget would help the economy to return to projected nine per cent growth. The changes in Income Tax slabs are a good step. The Budget guarantees social justice and economic development. I appreciate Sri Panab Babu for giving priority to education, people’s welfare and infrastructure. It is good that the NREGS spending is still being kept at Rs. 41000 crores. To boost the moral of farmers, he has announced a subsidized 5 per cent interest rate on crop loans on timely repayment, while proposing a 15 per cent hike in credit made available for farm sector.

Over all, this Budget seeks to focus on inclusive growth and ensuring food security. The finance minister has properly taken care the issues of common man with credible measures like improving investment climate, strengthening infrastructure and fiscal consolidation. In this uncertain time his concerns for inclusive growth while targeting the society’s disadvantaged section is a welcome step.

In spite of Pranab Da’s best of intentions, politics will get precedence over his pragmatism and for this Price Rise which is badly affecting common man will be the sole reason. Blame game between Agriculture Ministry and rest of the cabinet will not suffice for long as common man on the road hardly differentiates between Pranab Da and Sharad Pawar as both belong to same UPA government. This is one menace that is likely to destroy all the good work done by the UPA government and it will give entire opposition a much needed fuel to add to fire.

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