Wednesday, February 25, 2009

29000 crores for votes

Take this 29000 crores and buy those appliances and soaps and LCD TVs, but give us the vote...

Pranab Mukherjee may have left consumers disappointed with his interim budget last week, but he made up in style on Tuesday, announcing cuts of 2% in service tax and in excise duties on most goods that should help ease the household budget. In all, sops announced during the stand-in FM's reply to the discussion on the interim budget are estimated to cost the government over Rs 29,000 crore.

While the government was at pains to portray the exercise as a third stimulus package for the economy , pressure on Mukherjee from his own partymen and allies to deliver some sops before the elections is likely to have played at least as large a role in inducing him to loosen the purse strings..[TOI]

In a second piece...Urban Indias sullen mood, TOI puts it even better

Concern over a sullen mood gripping urban India in the wake of a slowing economy and rising job losses and a clamour for a dose of populism from within the ruling coalition seem to have nudged stand-in finance minister Pranab Mukherjee to abandon ``propriety'' and announce duty and service tax cuts. [TOI]

Lekin, bhooliyega nahi, aap ka keemti vote, sirf hame hi deejiyega...Milte hain, election ke baad.

Would have been a lot more convincing had those roads been built, armed forces modernised, made some significant diplomatic inroads against Pkstn, kept the neutrality of certain institutions intact etc. etc., but lets not talk about that.

Aw, cmon, you stupid blogger, surely you want to buy cheap soap and LCD TV? And pay less service tax. So what are you cribbing about...Get back in the queue...

Too little, too late [IE]

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