Thursday, March 4, 2010

Budget Blues

Much awaited union budget of India is out. People of this federal republic is eagerly awaiting budgets from the state governments. Already inflationary tendencies are seen around. Long back there was some talks about increasing the milk price from none other than a union cabinet minister. MILMA - government controlled co-operative society responsible for milk collection as well distribution in kerala has indicated that they require a price hike of about RS. 3/- urgently. Already the hike in petroleum products got into effect. This will definitely have a great compounding effect on most of the commodities. In a nut shell, the middle class will have to bear the grunt. (I am not forgetting any classes below that, but i guess they exist only on paper. Either they got into the middle class category or they have already extinct with earlier budgets.)
The silver lining might as well be the increase of income tax slabs. It was indeed expected since all 'government SERVANTS (?)' got their pay hike implemented in the last fiscal. There was a news item from Gulf stating that one Mayor got arrested in connection with the flooding of Jiddah (I guess it was Jiddah, do correct me if i am wrong). The arrest was made on the charges of not effectively utilising funds earmarked for storm water containment. If this mayor happens to be a 'government servant', i am all for implementing similiar stuff right here in India. Authority must come hand in hand with responsibility & people at offices must be answerable.