Remember Manmohan’s paradigm shift?

The presentation of the Union budget has been received in the media by anapplause that borders on euphoria. This is not surprising. The be...

The presentation of the Union budget has been received in the media by anapplause that borders on euphoria. This is not surprising. The benefitswould accrue to those who are vocal and articulate: the rich and theinfluential. The cost would be borne by those who are silent or not heard:the poor and the underprivileged. It is important to redress the balance andsituate the budget in a wider socio-economic perspective. How is the burdenof the adjustment distributed between different classes in, or segments of,society? The caricature answer that appears to emerge from the budget ismake life comfortable for the rich and leave the poor to take care ofthemselves.

The structural reform in the system of direct taxes abounds in concessionsfor the rich. The changes in the realm of indirect taxes are likely to beboth inflationary and regressive, which can only hurt the poor. The emphasison and the pattern of expenditure adjustment is such that it would make thepoor more vulnerable to, rather than protect them from, the burden ofmacro-economic adjustment….

`A SELL-OUT TO OUTSIDERS, SAYS BJP’
New Delhi: Major opposition parties sharpened their attack on the Raogovernment budget, with the Bharatiya Janata Party calling it a sellout, andthe National Front Left Front combine deciding to oppose it inside andoutside Parliament…

Story continues below this ad

The BJP dismissed what it termed as a “salesman’s budget’, saying that theGovernment “is so preoccupied with selling the country to outsiders that ithas no time for the poor, the weak, the down-trodden, the kisan, the artisanand the worker”.

The BJP’s attack on the budget after a two hour discussion on the subject bythe party’s national executive on Sunday, was, significantly, much sharperthan the extempore remarks made by party leaders on the budget, soon afterits presentation on Saturday…

`CONGRESS GEARS UP TO TAKE ON OPPOSITION’
New Delhi: After being at the receiving end of Opposition flak lastweek, the Congress geared up for a counter-offensive in Parliament with theWorking Committee meeting soon after the presentation of the Budget for1992-93 to plan party strategy. Considerable significance is being attachedto CWC’s emergency meeting on Saturday night under the chairmanship of thePrime Minister. The Kerala Chief Minister, K. Karunakaran, flew in speciallyfor a few hours to attend the meeting, probably the last one of the outgoingCWC.

After the Opposition’s flying start at the Budget session, cornering theruling party on the Budget leaks to the World Bank, Congress members heaveda sigh of relief on Saturday as Dr Manmohan Singh unfolded the Budget. Bythe time the Finance Minister concluded his speech, the Congress circleswere jubilant, with senior party leaders complimenting the minister for themost innovative budget so far and for displaying a “perfect professionalskill, contrary to expectations.”

Story continues below this ad

Union ministers who have been roped in to assist in the task of floormanagement to ensure the presence of party MPs in the House, swung intoaction on Saturday. These ministers, assigned specific states, got in touchwith individual MPs under their charge to ensure they would be present infull strength during the presentation of the Budget…

Reports excerpted from `Indian Express’, March 1992