Official Budget 2015 Thread

[anant_s]

Im what sense what are your expectations.

On personal front i was expecting (along with other salaried persons) some sops on Income tax, didn't get much, to me that is most disappointing part.
However all things considered, the best part to me are consolidation of finances, steps to reduce Fiscal deficit. This will have overall bearing on economy which ultimately benefits all. I would say it is a pretty balanced budget.

 

[Arya Desa]

You are willing to put your 5 year old daughter on a train to get educated ? ............. what kind of stupidity is that ?

Are you dumb? Don't you understand a joke.

 

[MokshaVimukthi]

Are you dumb? Don't you understand a joke.

This is a serious matter. This is Modi's second budget. That is two years of Modi govt. down the drain.

 

[Wounded-Monk]

How much emphasis on health expenditure. Anyone ??

 

[Dillinger]

That is because corporate tax has been cut by 5%.

It's sounds like a congress budget.



Cool................ so your want uneducated children to grow up to be Coolies with long life ? Fantastic way to build a nation.

What if your father had told you, beta forget about Graduation or post graduation, let me build you a alishan toilet with that money. ........ Think about what it means.

Why does the tax cut for the corporate sector surprise you?

This is not something that Modi has done exclusively, this is not a hallmark of any particular party's budget, this is the common denominator of all budgets.

Check the statement of revenue foregone in the Economic Survey, and every year you will find that tax given up by the govt. which was owed from the corporates exceeds that year's union budget for education.

And look at what we are seeing as allocation for skill development, how in nine hells will we see "Make in India" without a truly massive skilling/re-skilling/skill upgradation programme for an equipped workforce?

 

[Shotgunner51]

But the good news is they will have Toilets. ..................... what do you think they prefer ? An education or a Toilet ?
Even the poorest Chinese go to school.

FYI, since the promulgation of the "Compulsory Education Law of the PRC" in 1986, the 9-year compulsory education has been implemented in China. ALL citizens must attend school for at least 9 years, funded by the government, it includes 6 years of primary education, starting at age 6~7, and 3 years of junior secondary education (middle school) for ages 12~15.

Then students can choose to go on further studies in public education run by the Ministry of Education or private schools. The number of college graduates in China nationwide in 2014 will was 7.27 million (compared with 16.87 million of new born in 2014, ratio~43%).

Education in China - Wikipedia, the free encyclopedia
9-year Compulsory Education
-- china.org.cn
College Graduates in China to Hit Record High in 2014

 

[nair]

What are Agriculture sector highlights?

Somebody please post the agri section allocations.

Agriculture
Major steps take to address the two major factors critical to agricultural production,
that of soil and water.
‘Paramparagat Krishi Vikas Yojana’ to be fully supported.
‘Pradhanmantri Gram Sinchai Yojana’ to provide ‘Per Drop More Crop’.
`5,300 crore to support micro-irrigation, watershed development and the ‘Pradhan
Mantri Krishi Sinchai Yojana’. States urged to chip in.
`25,000 crore in 2015-16 to the corpus of Rural Infrastructure Development Fund
(RIDF) set up in NABARD; `15,000 crore for Long Term Rural Credit Fund; `45,000
crore for Short Term Co-operative Rural Credit Refinance Fund; and `15,000 crore
for Short Term RRB Refinance Fund.
Target of `8.5 lakh crore of agricultural credit during the year 2015-16.
Focus on improving the quality and effectiveness of activities under MGNREGA.
Need to create a National Agriculture Market for the benefit farmers, which will also
have the incidental benefit of moderating price rises. Government to work with the
States, in NITI, for the creation of a Unified National Agriculture Market.

 

[MokshaVimukthi]

Why does the tax cut for the corporate sector surprise you?

This is not something that Modi has done exclusively, this is not a hallmark of any particular party's budget, this is the common denominator of all budgets.

Check the statement of revenue foregone in the Economic Survey, and every year you will find that tax given up by the govt. which was owed from the corporates exceeds that year's union budget for education.

And look at what we are seeing as allocation for skill development, how in nine hells will we see "Make in India" without a truly massive skilling/re-skilling/skill upgradation programme for an equipped workforce?

Why do you assume it surprises me ? I am explaing the media hype.

Any tax cut in any sector is a good thing. The simpler the tax laws, the greater the benefit to the nation.

The Skill development initiative got a pathetic 1,500 Crores. That is a joke.

We are raising a nation full of maids, drivers and labours. More slave labour to service us and the guys in gulf.

Good news is that there is unlikely to be a shortage of maids to work for illegal salaries and uneducated kids entering the job market who will serve as cheap servants to the educated lot.

Looks like Modi is trying to make sure that many other kids experience the joys of being a chaiwala.

FYI, since the promulgation of the "Compulsory Education Law of the PRC" in 1986, the 9-year compulsory education has been implemented in China. ALL citizens must attend school for at least 9 years, funded by the government, it includes 6 years of primary education, starting at age 6~7, and 3 years of junior secondary education (middle school) for ages 12~15.

Then students can choose to go on further studies in public education run by the Ministry of Education or private schools. The number of college graduates in China nationwide in 2014 will was 7.27 million (compared with 16.87 million of new born in 2014, ratio~43%).

Education in China - Wikipedia, the free encyclopedia
9-year Compulsory Education
-- china.org.cn
College Graduates in China to Hit Record High in 2014

This has been the greatest reason for China's success and a key driver for your economic growth.

History is proof that educated nations manage to enter the global economy much faster and engage in much more productive work.

Today almost 100% of Chinese youth is educated. Most of them finish their schooling and enter graduation. This is outstanding and commendable.

In India there is not even enough schools, forget about college. The quality of education is not even worth mentioning.

 

[Mike_Brando]

If you put wheels on the school you can put it under the $135 billion railway budget.

Lol,you are one funny guy

 

[Shotgunner51]

This has been the greatest reason for China's success and a key driver for your economic growth.

History is proof that educated nations manage to enter the global economy much faster and engage in much more productive work.

Today almost 100% of Chinese youth is educated. Most of them finish their schooling and enter graduation. This is outstanding and commendable.

In India there is not even enough schools, forget about college. The quality of education is not even worth mentioning.

I think you cannot totally blame the Indian government as their fault or give credit to China government on this agenda of education. Though China government, being CPC controlled, can enforce education program in a more efficient way without caring about votes of other interested factions like the taxed rich, education is a deep-rooted East Asian philosophy. In East Asia, individuals, families, can sacrifice other things for education. If you look at PISA scores you might find this pattern:

65 countries (34 OECD, 31 Partnering), 2012 results
Programme for International Student Assessment - Wikipedia, the free encyclopedia

So I don't think India government should use China as a benchmark for education, however more input does seem necessary for the benefits of all its people.

In it's relation to defense budget, some reference for you. Notice that China launched compulsory education in 1986? It was the year immediately after the retrenchment of PLA was completed in 1985. The retrenchment started back in 1980, the year immediately after diplomatic relationship was formalized between China and the biggest threat - USA - in 1979, easing the security environment of China. Deng Xiaoping set the order diplomacy -> defense cut -> boost education.

 

[magudi]

Agriculture
Major steps take to address the two major factors critical to agricultural production,
that of soil and water.
‘Paramparagat Krishi Vikas Yojana’ to be fully supported.
‘Pradhanmantri Gram Sinchai Yojana’ to provide ‘Per Drop More Crop’.
`5,300 crore to support micro-irrigation, watershed development and the ‘Pradhan
Mantri Krishi Sinchai Yojana’. States urged to chip in.
`25,000 crore in 2015-16 to the corpus of Rural Infrastructure Development Fund
(RIDF) set up in NABARD; `15,000 crore for Long Term Rural Credit Fund; `45,000
crore for Short Term Co-operative Rural Credit Refinance Fund; and `15,000 crore
for Short Term RRB Refinance Fund.
Target of `8.5 lakh crore of agricultural credit during the year 2015-16.
Focus on improving the quality and effectiveness of activities under MGNREGA.
Need to create a National Agriculture Market for the benefit farmers, which will also
have the incidental benefit of moderating price rises. Government to work with the
States, in NITI, for the creation of a Unified National Agriculture Market.

~ $150 billion agri subsidies + $20 nrega (approx). How the hell does this qualify for being called right wing? Does India even have a real right wing :frown'

 

[Koovie]

Its a first step into the right direction, like cutting corporate taxes significantly or installing 50000 toilets... But yes, it could have been more

 

[SpArK]

Agriculture
Major steps take to address the two major factors critical to agricultural production,
that of soil and water.
‘Paramparagat Krishi Vikas Yojana’ to be fully supported.
‘Pradhanmantri Gram Sinchai Yojana’ to provide ‘Per Drop More Crop’.
`5,300 crore to support micro-irrigation, watershed development and the ‘Pradhan
Mantri Krishi Sinchai Yojana’. States urged to chip in.
`25,000 crore in 2015-16 to the corpus of Rural Infrastructure Development Fund
(RIDF) set up in NABARD; `15,000 crore for Long Term Rural Credit Fund; `45,000
crore for Short Term Co-operative Rural Credit Refinance Fund; and `15,000 crore
for Short Term RRB Refinance Fund.
Target of `8.5 lakh crore of agricultural credit during the year 2015-16.
Focus on improving the quality and effectiveness of activities under MGNREGA.
Need to create a National Agriculture Market for the benefit farmers, which will also
have the incidental benefit of moderating price rises. Government to work with the
States, in NITI, for the creation of a Unified National Agriculture Market.

The NABARD grand looks promising..

I guess by April the banks can be engaged over Agri term loans.....

 

[SrNair]

The NABARD grand looks promising..

I guess by April the banks can be engaged over Agri term loans.....

Krishi onnunkoode angu.vikasipikkam.Alliyo

 

[magudi]

Its a first step into the right direction, like cutting corporate taxes significantly or installing 50000 toilets... But yes, it could have been more

50 lakh toilet built last year, target 6 crore

Budget 2015: We will build six crore toilets, says FM Arun Jaitley - The Economic Times

Ps :- record 7.1 lakh built this jan alone