Friday 26 February 2010

Union Budget 2010

I had the privilege to be associated with live Union Budget 2010 (Video) / Union Budget 2010 (Text) viewing session organized by a prominent Industry Chamber today. Union Budget is the detailed Annual Financial Statement as per Article 112 of the Constitution of India, presented each year on the last working day of February by the Finance Minister in Parliament. The budget has to be passed by the House before it can come into effect on April 1, the start of India's financial year. 

Amongst the very many flagship announcements made by the finance minister, the introduction of a symbol for Indian National Rupee struck my imagination, how is it going to be? Would it bypass the elegance of the $, class of a ₤, discipline of the ¥? Suddenly I realized that the minister does not has any visual aid with him, and the announcement will leave us imagining about the symbol till they actually come up with a new one.

Walkout staged by the opposition further to its disagreement on excise duty/hike in petrol & Diesel prices by Re1, according to me was rude to the sentiments of Nationality, as I believe the budget session is discussed in the parliament, and the opposition has every right to express their grievances. On the contrary I also feel that the effectiveness of governance depends on the activeness of the opposition, certainly not by walking out, but by getting themselves heard.

The Budget slashed the taxation slab for taxpayers. At last the minister proclained that this is the budget for aam aadmi, the farmer and an entrepreneur. He said that India has the potential to grow by 10% in coming future. 

After the session Industrialists were suppose to participate at panel discussions held by various news channels.  NDTV had a lavish setup in the open at India Habitat Center, followed by CNBC. The behind the show glitches, on which channel will get which speaker continued. CNBC and NDTV had the biggest of battles as both wanted the first slot. Times Now, Headlines today were the next and the most flexible of all was Zee Business.

Author's Note: This was the first time that I sat through listening to the entire Union Budget speech.


  1. Honestly
    speaking this budget has hardly anything do to better for the ppl specially unemployed
    its just the other step for hiking the price and also for witing till the nxt yr.

    The hike in petro commodities shld not be thier until unless the prices of commodity goes down other wise BACHELORS LOG JO SHADI KA PLAN KAR RAHE HAI POSTPONED kar dein.

  2. Well. India's Budget :2010. To my view i liked the budget as the same has a proper proportions or the balance of capital and duty structure for almost every sector. The enhanced boundary line of direct taxes have also paid a reason to especially the middle class ones,to survive in increasing inflation in the basic necessities like house, education and the daily expenditure.

    Yes, the walk out of opposition had prompted me to give a slap to everyone as the discussions session on budget is always been held after the budget... So... Anyway... They will never understand to work toward national integrity on every core area. It is we who are flourishing the new India which i think will be a set example by 2010. I believe so... Well!!! lets work and make our nation pride by getting more salaries and thus contributing to nations GDP and make it the largest economy of the World...


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