I don’t know why Mr. Modi overlooked Dr. Arun Shourie for the post of finance minister. Whatever might be the reasons, his choice of FM Arun Jaitley was terrible and now the recent budget has demonstrated that.
I am not an expert and hence cant understand the technicalities but broadly looking at the schemes and announcements Narendra Modi/Arun Jaitley have miserably failed to show that he is committed to more market friendly India.
It is the same usual Congress-Chaap socialist budget where they announce more funds for IITs, IIMs, Girl Education and Madarassas.
Narendra Modi got elected on the plank of “minimum government” but the budget looks like more of a micro-managing government where they have separate tax rate for LCD tvs less than 19 inch than the larger once.
This budget probably is just Congress budget with a promise “we would do it better than them”.
There has not been any talks of introducing more private participation in education or letting for-profit companies to enter education. Breaking up coal India, getting rid of sick PSUs, simplifying tax code, more uniform taxation policies and so on.
Hard to see why Indian farmers are still not required to pay taxes. They could have kept the same type of slabs that would have easily exempted poor farmers from the ta burden.
Wasting public funds on IITs and IIMs is again a mistake. You do not need an IIT in each state. A good institution also requires proximity to industry and other facilities. Government could have simply given more funding to the existing IITs to either open more campuses or increase the intake.
For-profit companies must be allowed to run universities. Longer this takes, farther we are going to lag behind the world.
This budget was disappointing and I regret staying up for the same.