`Strokeless Wonder' without result - Budget for the financial year, 2019-20.

I asked Tapas what is his comment on the Budget being presented in the Parliament. It was viewed by the entire country. For some it was an important speech which lasted for 2 hours 15 mins. The first lady full time Finance Minister , Nirmala Sitharaman with her language skill and confidence kept the house silent . There were no jeers from the opposition but only table thumping. This was unlike the other years when the opposition objected whenever something considered progressive by the ruling party was announced.

Mostly language made the speech seem boring at times. There will be disagreement on this also. After knowing of the budget which is presented each year it is understood to be announcement of how the Government will spend the fund collected through taxes from the citizens. But then the expenditure may not match the income from collection of taxes. The Government adopts deficit financing. One feature of the annual budget is that it tells about the ensuing months of the financial year. Listeners have to acknowledge whatever is stated in the Budget Speech. There are poems in the budget to make it interesting. Thoughts of philosophers to justify the projected expenditure is presented . An annual budget has nothing to do with the past, only the future. Words of Rishi Aurobindo ring in the ears, `we do not belong to the dawns of the past but the noons of the future.' So when the budget speech is read out the listener does not get a clue of the last years projections and its actual figure. Balance Sheet companies are, however, required to give the figures of the previous financial year. Layman does not understand the format of presentation of the budget. At least Tapas and myself do not understand. The Budget is present in language form rather than in figures even though it is concerned about figures. There are debates on matters relating to the future being `full of sound and fury signifying nothing.' `Nothing' as the debates are on the future expenditure. All projections can be seen in reality after the period has crossed. After the year one learns that expenditure incurred is more than the income through tax collection both direct and indirect including GST and Customs Duty. Civil Society is not taken into confidence at the close of the financial year. There is hardly any surplus only deficit year after year. So budgeting is not as simple as it is spelt. It has a wide impact.

Layman found that there was no sound of opposition from the opposition bench. This must be due to the fact that no scheme or project was announced in the speech. Finance Minister said that they were included in the budget papers. Financial Year had two budgets. One in February, an interim budget and the other one on 5th July being a full budget by the newly elected Government. Income and Expenditure projected in the interim budget remained unchanged. Layman understood nothing. They had little scope to co-relate the two budgets. Only change being the deficit which stood 3.3 per cent of the GDP being 0.1 per cent less. But with three months already having passed there are large deficit in tax collection as found by the Government Departments . To increase income of the Government, Customs duty has been increased for import on gold and other precious metals from 10 to 12.5 per cent. There is a reduction of the rate of corporate tax on the basis of turnover . For companies having turnover upto Rs 400 cr will pay tax at the rate of 25 per cent.

Budgets are prepared each year to balance expenditure for creation of infrastructure by the Government for economic emancipation,demand creation,investment and creation of employment. The above seem to be in a static state. As we see no jobs around. Job seekers apply to receive no reply. For some posts advertised applications cross 1000 times. Despite all efforts to create demand, investment and employment for the youth of the country, the result is not encouraging. Macro economics that determine policies do not give the desired results. To-day degree holders have increased but job seekers are kept at bay. Unless steps are not weighed before implementation, results will be discouraging.

Economists are of the view that the budget stating Government spending under different heads would not be able to give the desired results. According to them foreign investment must be at the level of 12 per cent of the total income of the country. This is not possible. So the budget will remain to reflect the stretch of imagination only.

Therefore the annual budget presented on 5th July, 2019 is another marvel without effect. It is a good presentation for the future which seems bleak. If GST collection and direct tax collection falls , gap between income and expenditure will widen. The gap created will have to be financed by deficit financing leading to inflation thus pushing up the prices of goods and services.

After this the budget speech will be discussed in the Parliament. Amendments will be brought wherever thought prudent by the Government. Then the Budget will be implemented by the Government. It will be the Bible for all expenditure. Government will monitor through delegation to its officials to raise the resources targeted to meet the expenditure. Tapas and myself will forget what is in the Budget. Officials who will be paid out of the tax collected from civil society will work on behalf of the Government through delegation of authority. All Government Officials are supposed to perform the work assigned to them through office order. There is a term called, `red tapism' which affects the work culture in Government Departments. This affects the civil society. It is no less a crime than doing things which are not ethical. Government Officials are given designations , telephone nos., email addresses but when any ordinary citizen writes to any official assigned for clearing his doubt on question he might have, there is no reply. There instances of no reply for over two years ( Two Budget Speeches gone by this time)even after the person has written over ten letters and sent e-mails to the officials. Reply comes when letter is sent to his superiors. This only be-littles the Government. Words of Abraham Lincoln must be remembered that Government is,` of the people, by the people, for the people. '

Budget stressed on `more governance' but Government Officials like the above are there only to there to make the objective fail. Such Officials need to be taken to task then only the aim of more Governance will be successful. Tapas and myself feel that there are others like us who do not understand the meaning of an Annual Budget . It needs to be surveyed how many understand a Budget. Only what Tapas and myself understand that let it be such that `Am Admi' understands it. One thing Tapas and myself understand that `more governance' will not be a success unless Government Officials are made to understand that they have to perform in the interest of the people and not for personal interest.