BUDGET - 2009 (Comments)

The Union budget submitted by the Union Finance Minister, Mr. Pranab Mukherjee has not addressed any issue of importance which is being demanded by the people. It failed to understand the stimulus or changes required for the overall development of the country.

The comment of Mr. Pranab Mukherjee in his speech that budget shall not be able to address the problem of recession shows that he has no belief which he is presenting and is also a clear indication of his inability to handle the responsibility.

Neither the wishes of the employees nor employers has been addressed. At the same time, indication of de-nationalization of public sector units in this time of economic downturn shows the possibility of further cuts in employment in the state owned industries. Though half of budgetary receipts are especially from the services sector there has been no mention of support or encouragement to that sector which has also provided a lot of employment in the new arenas.

Budget has not addressed the issues related to mismanagement of economic issues in corporate sector. The scams in the previous financial years did not deter this government to make the auditing and financial transactions a transparent / fraud free issue. It has also given no ears to the salary regularizations which are being demanded by the private sector employees though it is causing heavy economic disparities between top management and entry level salaries.

The new budget is a budget of failed administration and a reprint of the old budgets.