: Budget makes news with CAPEX increase but falls short of inclusive development objective: Experts #WorldNEWSAll The budget was full of hype but with no adequate substance to match the hype with actual

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Budget makes news with CAPEX increase but falls short of inclusive development objective: Experts #WorldNEWSAll
The budget was full of hype but with no adequate substance to match the hype with actual numbers on the ground.
On the face value it gave impression that the government despite presenting populist budget is with the weaker and vulnerable sections but the reflective figures for social schemes, vulnerable, minorities narrate a different tale altogether.
With CAPEX increase of 33 percent, budget may have hit the headlines but likely to miss the goal of inclusive development.
Union Finance Minister Nirmala Sitharaman presenting the Union Budget 2023-24 in the Lok Sabha
On February 1, Finance Minister Nirmala Sitharaman announced one of the largest increases in capital spending in the past ten years, increased the personal income tax rebate cap, and distributed tax breaks for small savings.
The sixth consecutive budget was presented by Ms. Sitharaman when the economy is faltering and more money is needed for social programs as well as more incentives for domestic manufacturing. Next year, the Modi administration will run for a third term, and nine assembly elections will be held this year.
According to Paranjoy Guha Thakurta who is a journalist, writer, publisher and documentary film maker “This is the last full-fledged budget before the next Lok Sabha elections that is scheduled to take place in 2024. What will be presented on 1 February, 2024 will be a vote-on-account. Five years ago, they had also modified the personal income tax regime. This year also they have done it simply to convey an impression that is helping the middle classes. I am not sure to what extent the middle classes will gain. Some may gain 10,000, 15,000 or 20,000 and some may get a little bit even more. ”
Paranjoy Guha Thakurta
He added, “If the government thinks that the middle classes will have more money in their hand and therefore demand for various articles of mass consumption will go up, I am not sure it will happen. This government is trying to show that it is in favor of the vulnerable sections of the population like women, children, farmers, OBCs, SC and ST. It is more tokenism, to show that they are doing something but in actual practice it may not be like that. Look at the budget numbers of expenditures, compare the budget estimates and the revised estimates, and you will not that subsidies on food, petroleum products and fertilizers have not gone up. This is also true for the proposed outlays for mid-day meal schemes for schoolchildren and the MNREGA. One can see the budget estimates are lower than the revised estimates. The government may end up spending more through supplementary demands and for grants as they did last year. ”
“What the budget numbers mean we will know a year from now.

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