Pune: National Centre for Advocacy Studies conducted a lecture on 'Let's talk budget' on Wednesday to help the common people understand what budget means.
"You are earning Rs 40,000 per month and you have a family of five persons, with two school going children and an old mother. You have been told to make a household budget for the month with this amount. What everyone does is that they try to balance the budget, which at times either becomes surplus or deficit. The fundamental difference between a government budget and a household budget is that we try to make the budget out of income base, while it is the complete opposite for the government budget. There is barely any country in the world that has a surplus budget,” said Amit Narkar, Executive President of National Centre for Advocacy Studies.
Attended by economic students and representatives from NGOs, the four-hour workshop deliberated over the budget, its aspects, features, what one should look at and what information one should get from the budget documents.
The aim of the workshop is that after the budget is presented, there will be lot of discussions about falling and rising prices, inflation, tax revenues and India's macroeconomic condition. This discussion often limits itself to experts and the budget remains a mystery to the common man.
"The budget is not a game of numbers, but a political statement which the government makes,” he said, adding that the government budget is about government consumption and investments. G component of GDP is only 27 per cent in our budget. The direct taxes bring equality, and while the more indirect taxes we have, the more inequality prevails in the society.
"The budget means approval for the expenses in the future,” he said. Criticising the taxation policy of the government, he said, “The government gives tax rebate for corporate houses, which is called Revenue Forlorn. The government needs the budget for carrying out development schemes, work for the people, infrastructure models and thus, efficiency is not the right model,” he said.