The South Asian: The Implications of the Indian Budget

September 21, 2009

The Implications of the Indian Budget

An analysis of 2009-2010 Indian budget by the Network for Social Accountability.

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The Finance Minister has presented the full budget for the year 2009-10 on 6^th July 2009. The present budget has to be seen in the background of two major developments in recent times. Most prominently, this Union Budget 2009-10 is to be viewed as the first policy outline of the ruling coalition to tackle the ongoing world economic crisis (termed in several quarters as the greatest global economic recession in the history of mankind) to which, contrary to the tall claims of the ruling party, India is hardly immune. This Union Budget 2009-10 is also to be considered as the first policy formulation of the ruling coalition after getting the decisive political mandate of the people in the General Elections 2009 for its performance in keeping the economic meltdown away from critical sectors like banking and for providing substantial relief to the masses in distress through its programmes like NREGS.

The Budget 2009-10 also holds a lot of significance for its relevance in assessing the intentions of the present government in keeping its own promises it has made during the general elections held recently. Unfortunately, the mainstream sections of the media, academics and even the civil society have hailed the Union Budget by saying that the increase in expenditure would enable the system to fight global recession. Network for Social Accountability (NSA) in its efforts to create an informed debate on development issues and particularly on governance, views budgets as a tool to assess the level of pro-people orientation in the policy making efforts of a system. NSA in collaboration with other civil society partners has brought out a response on the Union Budget 2009-10.

Read the major findings in the response at http://nsa.org.in/Policybrief/2009/350UnionBudgetResponse2009-10Final02MainFindings.htm

Posted by collective at September 21, 2009 02:20 AM

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