Quick Review Of Interim Budget: Confident Of Returning To Power Govt Abstains From Populism

Quick Review Of Interim Budget: Confident Of Returning To Power Govt Abstains From Populism

Modi will fight the election more on emotional and political issues, rather than economic ones.

Staff ReporterUpdated: Friday, February 02, 2024, 06:40 AM IST
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Indore (Madhya Pradesh): Finance Minister Nirmala Sitharaman presented an Interim Budget in the Lok Sabha. It was completely devoid of any populism or grand declarations of any sort. It was expected and obvious. The Modi government is very confident of coming back and doesn’t want to put any burden on itself by making promises which would be difficult to keep. Modi will fight the election more on emotional and political issues, rather than economic ones.

Nirmala Sitharaman presented actual figures of receipt and expenditure for the current year and calculated a deficit of 5.8% of GDP. This may be termed as manageable though it is nearly 1% more than what it was in 2014. She announced schemes for the farmers to get loans. The critics may find that the percentage of collection of taxes from rich people through corporate tax is declining, while the contribution of the common man through taxes is increasing. There was no mention of the alarming situation of unemployment, especially the unemployment of graduates. India is slowly slipping on the front of taking advantage of its demographic dividends. Private investment has not picked up for the last several years, even though the government has more than compensated for this by its own capital expenditure. There is impressive expenditure in rail, road, and aviation sectors. India is seriously trying to improve ports and their connectivity.

Nirmala Sitharaman compared some points of the Budget of previous years, unemployment of 2014 with 2024 and gave a summary of the last 10 years. She loftily declared that 25 crore people have been brought out of multidimensional poverty. She took pride that in a world where inflation is high, interest rates are high, and growth rates are lower, India has still managed to grow at 7% or more. She also promised to present the full Budget in July.

NK Tripathi

Former DGP of MP Police

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