Not a Populist Political Budget but a Harvard Scholar's Economic Budget?
THIS was his last budget speech at least in this Lok Sabha. Political parties about to face elections are tempted to present populist budgets to appease the voters, but did PC overcome this temptation? The fact is everything was doubtful, whether he would be able to read his speech in Parliament and the Government's majority in Lok Sabha is only an opinion, which is best left untested. Thus it is more doubtful if the Finance Bill will be passed by the Lower House. In such a situation, the Finance Minister cannot take the risk of going too far with a political budget. Though nobody has the guts to oppose the "one rank one pension" scheme for the defence services, not every sop will be easily accepted by the opposition. So, the Finance Minister has little option - and he has made the best use of it.
But there is still hope. Indirect Taxes Notifications can still be issued; benefits to employees can still be given and so in another couple of weeks, we may still have a major announcement from the Finance Ministry rolling out those last minute lollipops just before the elections.
And as usual the FM ended his speech with a couplet from the sage, Thiruvalluvar, which means, "Not the spear but sceptre swayed with equity alone gives the ruler victory." How nice it would be if every Government servant realised this.