Historic & reform-centric

Union Budget 2017 is a clear reform driver. The conviction of BJP government is cast in iron and is quite indicative from the directional budget the Finance Minister has proposed to the house.

Any annual budget proposal of a nation is as good as its political will, governance competence, sincerity of purpose and fiscal strength. One can promise more and deliver less or deliver more and promise less.

The last two budgets of this government have clearly shown to outperform the promise, than falling short.

A simple objective analysis of budgetary spends vis-a-vis allocations, year on year revenue expectations and its realisation clarifies the sincerity of purpose, delivery focus and a highly competent governance model of this government.

Achieving an average of 17% revenue growth in the last two fiscals is exemplary and it outperforms the revenue projections of the earlier two budgets. It showcases the authenticity in projections instead of window-dressing them for a ‘feel good factor.’

Budgetary allocations and their complete spends, annually, project the credibility of a Union Budget. It also highlights the agility & competence of the ministries who propose and receive allocations as per their proposed project spends.

Last two budgets and their revised estimates showcase complete spend of the allocated budgets for targeted projects of all departments and ministries.

Non-BJP state governments have a lot to learn from the Union Budgets presented since 2014 by the Central government led by the BJP. It serves no one’s purpose to inflate the budgetary estimates and projections year on year, and end up with a red face in the revision document annually.

That’s exactly what is happening in many states in India. The budgets of many states have lost both credibility and legitimacy.

In many states, duplicity and lack of fiscal prudence is exhibited time and again. Many allocations to departments, ministries and schemes are not spent as per allocations.

There are instances where only 10% to 20% allocated budgets are spent. Either the funds allocated are fictitious and non-existent or brazen diversions occur. Constant and willful diversion of funds from departments, ministries and schemes are quite shameful and smack of illegitimacy and corruption.

In a democracy, a simple and an authentic test for a corruption-free government is its annual budget. If the budget is prepared and presented with honesty, integrity and conviction of purpose, that government is fundamentally transparent and corruption-free. All the others are proven corrupt in many forms. It’s not very difficult to analyse and conclude.

Governments which present their annual budgets which are window-dressed, made up with cosmetic lies and masqueraded as popular budgets are clearly corrupt.

These governments try to paint brush the leakages, inflate all numbers which fall flat in revisions, never accomplish their projections, and leave all options open for fund diversions with impunity.

The populist schemes presented in such budgets are ‘true lies’ and sound great only on the Budget day. The lofty schemes announced in these ‘false budgets’ never see the light of the day, as they can never be implemented as promised.

Like a fresh breeze of change, the BJP government as in the past presented its third budget with complete conviction of purpose. India is still a welfare state focused on the empowerment of millions of poor, especially those below the poverty line.

This budget has provided all the succour, relief and uplift to them, through steep increase in allocations for oppressed classes, child and woman welfare, rural employment guarantee scheme – MNREGA – and agricultural loans.

It has cut income tax rates at the bottom categories and provided for tax savings and deductions for the middle class and the employed. It boosted the real estate sector by bringing in legislation on industry status, capital gains and stamp duty.

It has supported MSME growth with increased provisions, massive investments into rural infrastructure & agriculture sector.

The Union Budget 2017 has driven provisions for autonomy in higher education, brought in National Testing Agency for standardization, provided for focused research and massive reforms in education sector.

It brought in tourism impetus and zoned the nation for focused implementation, continued focused inclusive development of North Eastern Corridor states & Kashmir.

Also, it identified and rewarded the sacrifices of farmers who voluntarily pooled their land for the new state capital construction in Andhra Pradesh.

The Budget has provided necessary sops for digitisation and cashless transactions. The government has continued on an ambitious path of disinvestment in public sector through PARA and other provisions.

It has already made unprecedented revenues through disinvestment in the last two years. Corporate tax restructuring promise and lowering of tax rates in few slabs in higher earning brackets is encouraging for entrepreneurs and wealth creators.

Bringing in a huge political reform to regulate funding of political parties in the Union Budget is a first. Among the many other historic firsts in independent India is presenting the budget on the February 1st and merging Railway Budget in the Union Budget.

In continuation of the massive reforms undertaken by this government in currency, economic, banking, social and political areas, this budget is a directional budget to transform India and Indians forever.

The Union Budget 2017 has no populist schemes, empty promises, frills and appeasement. It’s clearly aimed at driving multiple reforms at one go for complete transformation of this nation.

It is drafted to equip and strengthen the incumbent government’s political and governance will to steer this nation towards greatness it deserves.

It will achieve its outcomes through decisive leadership, effective governance and policy-making, than by divisive status quo maintained by Congress-led governments in the last 66 years.

This Budget also explicitly expresses the political will of this government to shift millions of poor from decades of entitlement to honorable empowerment.

In conclusion, the Union Budget 2017 is historic and reform-centric.
(Writer is a BJP
Spokesperson, an organisational strategist & an author)