Vande mataram!

I never thought I’d say this – having sat through the now historic budget speech of the ‘golden summer of 1991’ that I would ever feel this way again.

Thank you, Mr. Chidambaram, for a very Indian budget.

Here’s the snippet from the full speech on The Hindu’s website:


185. Mr. Speaker, Sir, our human and gender development indices are low
not because of high growth but because growth is not high enough. Faster
economic growth has given us, once again, the opportunity to unfurl the
sails and catch the wind. Without growth, I could not have given a new
thrust to agriculture. I could not have given relief to the small tax
payer, the small service provider and to small scale industry. I could
not have promised 100,000 scholarships or 100,000 jobs for the
physically challenged. I could not have promised a massive ground water
recharge programme or social security for rural landless households.

186. The UPA Government has delivered on the promise of savings and
investment, and will deliver on the promise of encouraging more savings
and translating the savings into more investment. It has delivered on
the promise of growth, and will deliver on the promise of making growth
more inclusive. I believe that, given a right mix of policies, the poor
will benefit from growth that is driven by savings and investment and
that is more inclusive. As Dr. Muhammad Yunus, the Nobel laureate,
said, "Faster growth rate is essential for faster reduction in poverty.
There is no other trick to it."

187. Sir, with these words, I commend the Budget to the House.

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7 Responses to Vande mataram!

  1. Prashant Subhedar says:

    Hi Niti,
    Before you go gaga and put a spin on this let me bring you to earth. The educational cess on tax has been increased to 3% from 2%. FBT cuts into whatever remaining profits as it is charged over expenses and not an income. Fringe is the right word having elected those bordering on the lunatic one to office. A small design co has to file the same amount of paper work as Mukesh Ambani’s Reliances industries. This budget is nothing short of a cruel joke. Essentials look set to rise and with it so do fraud auto and taxi meters which drain upto Rs. 25/- each way per day from home to office and back. For a small business complicated economics and accounting means that you hire a BCom graduate costing anywhere between Rs. 60,000 to rs 96,000 per annum.The Fin Min has gone and reduced duty on what “Imported pet goods”.Does this not smack of interests beyond those apparent runnning the budget. A small landowner who has a small house and rents another to a small co sya that of 4-5 people for Office use now has to charge 12.3% service tax, maintain accounting heads and what not. Historic budget my foot !!!

  2. niti bhan says:

    I think we all took those parts that suited us and interpreted it accordingly.

  3. Prashant Subhedar says:

    Hi Niti,
    Who are “Us”? What would suit us ? I am a product designer and run a product design firm here in India. I find there is nothing to celebrate. Perhaps I am too much caught up in the daily grind over here and have missed something.

  4. niti bhan says:

    > Mr Chidambaram said five million farmers would be “brought into the
    > > banking system” in the present fiscal year and the rural job
    > > guarantee scheme would be expanded.
    > >
    > > According to analysts, a lack of adequate, affordable credit has
    > > prompted a wave of suicides amongst farmers across rural India.
    > >
    > > Mr Chidambaram said: “Revenues were buoyant for the third year in
    > > succession. I have put the revenues to good use to promote inclusive
    > > growth, equity and social justice.”

  5. niti bhan says:

    Design has evolved to become more human centered. It makes us think of those who will use the products we design.

  6. Prashant Subhedar says:

    > > Mr Chidambaram said: “Revenues were buoyant for the third year in
    > > succession. I have put the revenues to good use to promote inclusive
    > > growth, equity and social justice.”
    If you believe that you will believe anything. The GoI does a good job in hiding why its good intentions never come to fruition. Hey, how many of those revenues put to good use went in trying to cover up the Ottavio Quattrochi arrest in Argentina.
    I agree on the design becoming human centred, but spare a thought for the “poor” designer struggling against a gov bent on creating oligarchs under the name of market dynamics, consolidation and what not.
    Oh and by the way, the GoI’s rationale for the cess increase is to cover up for the extra seats it needed to create to accommodate general category students who would have been left out because of increase in quota. And the same champions of social justice do not go to Laloo’s daughter (Patna Univ topper)a certified doctor to get treated.
    I am sure you had read something into the budget with a pure heart and that being in a place from where you had a different point of view felt positive about it. I do not wish to get in a slanging match and ruin your weekend.I have a salient features for small and medium biz.s (the domain of most design cos.)of the budget put together by my CA friend. If you wish I can share the same with you.
    Else have a great day and a fine weekend

  7. niti bhan says:

    Was it Kabir who said that where we see only a pile of fresh elephant dung the Buddha sees eternity?

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