Sunday, July 20, 2014

NDA's First Budget 2014

First Thought: Given the conditions of prevailing Indian political economy, the Union Budget for 2014-2015 is a good start for many new thinking of the new government. In many ways, the government has clarified the official focuses and intentions in many sectors particularly in small entrepreneurs development, infrastructure development, energy sector, and so on. The income tax and other tax saving exemptions are very important positive development for millions of people.

Sensible good people agree on all the right directions of the Budget and expose the wrong intentions. On that line here are some good points from the random experts. I do not agree with everyone on all the matters of budgeted issues/challenges.

To start with. Dr Bhalla says the "Budget 2014-15 (but not the long “everything and don’t forget the kitchen sink” speech) is one of the best content budgets of the last two decades." 

PBM says "This budget is a cross between bad elements of UPA 2 and NDA 1; there is no new Modi 1 in sight yet. The budget has no poetry and uncertain plumbing."

Dr.Desai on "the gigantic statue of Sardar Vallabhbhai Patel. I am a great admirer of him; I met him for the last time just two months before his death. But a statue of him is of the same order as the elephants erected by Mayavati, only a hundred times more wasteful."

Other useful links:

If you care about global warming, blame Keynes and follow Hayek.

What does socialism do to ethics

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