The union govt may make any claim but the revised budget estimate figures compared to budget estimates reveal total policy failure of central govt. It appears that govt has not yet under stood which sector is dragging the economy. All around govt goes on announcing plans for corporate and multi national companies. If budget documents are stuidied the facts are some thing else. The corporation tax collection revised estimate has been brought down to 3,59 lakh crores from 3.73 lakh crores.
Similarly union excise RE has been taken at 1.71 lakh crores as against BE of 1.94 lakh crores. Thus there ois loss on production despatches as well as earnings of corporate. On the other side non corporation income tax RE has been taken at 2 lakh crores as against BE do 1.80 lakh crores. Servise tax is expected to bring in 1.32 lakh crores as against budgeted 1.24 crores. These figures clearly reveal that the union govt policies towards corporate is non productive. The failure of corporate sector clearly shows policy paralysis. Had govt taken similar interest in non corporate SME's the economy of our country would have been better.
On expenditure front the expences on Broad casting is increased in RE to 1729 crores from BE of 1574 crores. Are publicity expenses in view of forthcoming election casting additional financial burden on our country's financial. The expenditure on Rural Development is going down from 40680 crores to 35535 crores. Irrigation and flood control down to 833 crores from 1516 crores in similar manner the expenditure on North Eastern Ares, Grants to states etc have gone down.
Its high time the policies be framed in accordance to the ground reality and needs of people of India and not what foreigners want us to do.
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