Ho-hum, Budget re-run

Given that pre-Budget expectations and the post-Budget sound bites remain the same every year, why does the annual exercise continue to generate such excitement and hype?

With the so-called first ‘real’ Budget of the UPA government round the corner, the familiar pre-Budget noises are doing the rounds. Reduce and rationalise tax rates, curtail, if not abolish, all non-merit subsidies, align our customs duties to Asean rates and increase public investment in rural infrastructure and irrigation networks. Measures which are strictly not under the purview of the finance ministry are also suggested, since past finance ministers have won brownie points on commitments to labour and administrative reforms.

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The message remains the same: economic reforms is the path to traverse, unless, of course, you belong to the Left camp in New Delhi. The Bengal Leftists have no qualms in embracing the same Tata-Birlas as well as the MNCs whom they vilified a quarter century ago. Well, that is an alternative economic model, even if it looks like an exact replica of what is being attempted in the rest of the country! Surprisingly, when in power, economic reforms is the bedrock for the nation’s prosperity. It is only at the time of elections does economic reforms cease to be the panacea for all ills. In fact, the very reforms become the nemesis of incumbent governments, never mind what the reality actually is.

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