Is Budget relevant?

By Vijay Kumar

I requested a very senior retired officer of the Customs department to write his budget wish list for us. He wrote in,

I am now of the firm opinion that the annual budget of the centre is a thamasha which wastes time and money. The economy is progressing fast and to sustain it, necessary steps will have to be taken immediately.These cannot await the annualbudget.The recent reduction of duties of certain imports, though for the purpose of controlling price rise and consequent inflation, were taken outside the budget.. The budget is now basically a political instrumentfor influencing the voters, in the present case, those in U.P and Punjab. And to glorify the flagship schemes of Her Excellency and get more popularity for Her. Excise duties and customs duties can and have to go down not because our present economic conditions warrant it, but because we have to fall in line with ASEAN. So, what is left? Much ado, tons of paper, articles and hours of Media. So, I do not think any wish list, which goes beyond I.T. rates reduction and more exemptions, would have much value. Extreme view?Maybe. But it is mine.

Not at all Sir, Your view will have many takers and I may be pardoned the indulgence of reproducing the last line of his mail, which is a personal honour to me.

I write this only to keep in touch with you.

Thank You sir.