Thursday, 23 January 2014
Saturday, 11 January 2014
Well into January, yet no sign of the annual Budget charade. Normally the Media goes into overdrive speculating on everything from proposed Taxation changes to sectors that might benefit. The AAP and Modi effect have effectively overshadowed pretty much everything else.
Any case, should a Nation's Budget be so important?
In another scenario, imagine it was 28th of February and today was D-Day, sorry, B-Day.
I eagerly switch on the telly a little before time to catch all the action.
'This is Oneup Roy from Any Dee TV, to bring you all the Budget excitement live from the Taj, hosted by CLICCI. With us we have the Who's Who of India on the panel of experts.
Over to Parliament for the FM's speech Live'
FM, in his impeccable white starched Shirt-Lungi attire recounts all the 'achievements' over the past year while a few MP's try to keep from dozing off. My moment comes when I actually catch a couple of them cozily napping and waking up, only when there's bench thumping or turmoil. Depending on what the FM proclaims, the heart beats of Stock prices flutter on screen.
The proposals, the balances between 'gives' and 'takes' finally end. In between the live feed, there are shots of the Panel members taking notes and exchanging comments, all important stuff, of course.
Oneup Roy excitedly gets back into action mode.
'First, the quick reactions from our Panel before we do serious number crunching'
Anand Gajendra 'I was expecting some sops for the Auto sector. Despite the most dismal year of the decade for Automobiles, there is nothing to incentivise growth. The Automobile sector provides employment, directly and indirectly, to hundreds of thousands. Thus, disappointing.'
Chanda Tushar 'Given the contraints he was faced with, I think it is a pragmatic Budget. He has focused on curtailing spending and reigning in inflation'
Adi Noshrez 'The FMCG Sector should be happy because of his rural focus.'
Pradip Mittal 'India's manufacturing has decelerated and I don't see anything new in the proposals that will spur growth and revive dismal demand for Metals'
Rakesh Gungunwala: 'The Tax on Capital gains is going to adversely impact the Equity markets- coming at a time when we were just finding our feet'
Balwant Sinha, BLP: 'The Budget has no vision, just as I have been saying every year for the last 10 years. This Govt. must go.'
Swami Krishnan 'Let us examine the details first. The macro economic scenario first. Let us come to para 18 of section B of the proposals. If you compare the projected Deficit of the last year versus the actual performance and assuming we fail as badly as we did last time, notwithstanding any other factors that might affect these projections .......... ................. .......... ....... ..........
'Mr Swami' butted in Oneup Roy, 'this Blog has to end now'
This Blogger meanwhile switches off the Telly and on the next day, catches the same comic-cartoon he sees every year in the papers:
A street man in torn garments, reading the papers: 'nothing much in this Budget for me'