CAPF-AC (Assistant Commandant) Exam Study Material : Indian Economy - Union Budget & Economic Survey
CAPF-AC (Assistant Commandant) Exam Study Material : Indian Economy - Union Budget & Economic Survey
Indian Economy
Union Budget & Economic Survey
Union Budget 2012-13
The Union Budget 2012-13 presented by the Finance Minister Pranab Mukherjee in Lok Sabha on 16th March, identified five objectives to be addressed effectively in the ensuing fiscal year. They include focus on domestic demand driven growth recovery; create conditions for rapid revival of high growth in private investment; address supply bottlenecks in agriculture, energy and transport sectors particularly in coal, power, national highways, railways and civil aviation; intervene decisively to address the problem of malnutrition especially in the 200 high-burden districts and expedite coordinated implementation of decisions being taken to improve delivery systems , governance, and transparency; and address the problem of black money and corruption in public life.If the Union Budget was expected to make some special concessions for West Bengal to placate Chief Minister Mamata Banerjee, there was no hint of it in Finance Minister Pranab Mukherjee's speech on Friday. Indeed, it was a speech singularly short of any political message; nor indeed, did it have a strong social message, as most of the schemes mentioned are already in place, with the government just making additional allocations. Perhaps, the only social sector issue that Mr. Mukherjee highlighted in this fiscal year was to “intervene decisively to address the problem of malnutrition, especially in the 200 high burden districts.”
Interestingly, that message appeared to have got across to the Trinamool Congress. For despite the fact that West Bengal only got a flood management project in Murshidabad, a Congress-controlled district, and Rs. 50 crore to establish a world-class centre to improve water quality in Kolkata, the Trinamool MPs seemed low key, describing the budget as “tolerable.” Of course, Trinamool Leader in the Lok Sabha Sudip Bandopadhyay did mention the fact that West Bengal, like Punjab and Kerala, was “in a debt trap” and wanted a three-year moratorium. But government sources told that the Centre had made it clear to all three States that it wanted to see some signs on the part of these State governments that additional funding “would not be like pouring water into a bucket with holes in it.” The message that the UPA government, evidently, wants to send out through this budget is that its focus will be on strengthening the economy, stimulating growth and on revenue generating measures. “If India can continue to build on its economic strength, it can be a source of stability for the world economy and provide a safe destination for restless global capital.” Probably the message of this budget: that the government intends to govern, and the allies need to get on board.