The monsoon in India has been late this year. Farmers and me are scarily looking at the skies for a drop of rain and atlast for the past 3 days it has been a relief. But the inflation has skyrocketed and scarily enough the prices have gone up up n up.
It is a sad and helpless state of affairs for the common man. While the Govt was expected to do SOMETHINg it presented a populist but vague budget with no sight of tangible results. The Indian budget with a million crore rupees (Rs10.21 trillion) expenditure is one of the biggest surpassing budgets of continents put together.
Subsidies up from Rs.71,431 crore in B.E. 2008-09 to Rs.1,11,276 crore in B.E. 2009-10.
In the budget, the Government yesterday provided massive outlay for social sector and rural development to the tune of over Rs 71,000 crore, including Rs 39,100 crore for its key employment scheme NREGA.
a new deficit figure of 6.8% of GDP, with a revenue deficit of 4.8%
Outlay for Defence up from Rs.1,05,600 crore in B.E. 2008-09 to Rs.1,41,703 crore in B.E. 2009-10.
Budget Estimates provide for a total expenditure of Rs.10,20,838 crore
India is planning to spend Rs 9 billion ($189 million) on education programs which will leverage IT and Communications network within the country to reach the poorest. The budget laid this out.
Although for India’s size this is paltry. If I take India’s population as 1.5 billion, then this amounts to Rs 6 per person. Which isn’t a whole lot to begin within. But given the other expenses of Government schools and NGO funding over the year, one would assume that some of this will benefit the poorest of the kids.