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Budget Analysis – Indian Media

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Every year we have this annual  ritual called the  union budget which is presented by the Finance minister. There have been many changes in the way the budget was being presented from the time of the day (evening) to the day (last day of feb) on which its presented. All  changes incidentally are due to the NDA govt. Not to forget merging the entire railway budget with union budget. Congress govt for reasons best known to them like to keep status quo. Also i would like to say I am no economist and would not get into merits demerits of policy decisions but I would like to know as citizen of the country and tax payer what is the implications of the policy on common man (Aam admi).

Now like every year some channels run these pre budget shows where they interview different sections of society and collect wish list of what they would like to see from the FM. Some of them are genuine some unrealistic some are quite bizarre like they ask some one would you like to get concessions in Airfare (I am serious). How can any Democratically  elected govt spend tax payers money on subsiding Airfare is beyond me .But that is just Indian media for you.

Then on budget day they micro analyze FM body language and check how many tea spoons of sugar did FM take before coming into Parliament and calculate what impact that will have on economy i.e. sweet or sour budget.

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Then there is the Eco-system which exists and we all know how they operate .Its does not matter if he/she believes in Right wing capitalistic  economics or left wing socialistic economics all of them are united in their hatred of one man the PM .

Now sample this before Budget the stock market goes into a rally. Some of these experts go on saying there is agrarian crisis in the hinterlands and PM is going to Davos and showing off rising Sensex. What is connection between the two is different matter altogether.Then in stunning coup they convince Poster boy of Indian stock market analysis to write this, Most of which doesn’t make any sense but there is one thing which our Self styled analyst wants despite being darling  and voice of the markets .He wants Long term capital gains tax .

Now the budget is presented by FM ,it has many highlights like the New health care scheme for poor, Hike in Minimum Support price for farmers  and lo behold FM decides to tax capital gains but with certain conditions. Now our poster boy should be happy right? No he keeps asking other “experts” what impact  this will have on the market and he holds this move responsible for the stock market falling.

Then there is Good doctor who calls himself neutral but does the job of Congress spokesperson.The moment Capital gains tax is announced our doctor tweets this :

Until then he doesn’t tweet about Health scheme despite being a doctor nor about the Hike in MSP but about Stock market falling. Note when stock market rises its about rural Indian agricultural crisis when capital gains tax is introduced then  highlight stock market falling. Even wolves have better manners.

Finally there is another intellectual who preaches us from abroad who tweets this :

Since he could not find anything else he found that Indian defence allocation has not increased enough .But on other days his other friends keep reminding us that with level of poverty in our country we should not spend so much on defence (Never mind that we have hostile neighbours like china and pakistan)

But no one tries debate if hiking MSP for farmers is good idea or is there better solution to the problem or is the money allocated to health insurance scheme worth it or can it be implemented in better way and where and how will the money come for all this .If the PM has implemented it must be opposed.

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