By widening Income Tax slab on one hand & raising the indirect tax rates on the other hand, the Finance Minister(F.M.) Mr.Pranab Mukhurjee through this year Budget 2010 paves the way for a turning point in the Indian republic’s history as per our research & study conducted on Budget 2010.
74% of the people says that the Budget is fulfilling the expectations of the ?Aam Aadmi?(common man) but only point with negativity for ?Aam Aadmi? was the hike in petro products where by 62% of the people said that the F.M. should roll back the prices hike in petro products.
Survey reveals that the disinvestment & telecom spectrum auction may only be able to shave some percentage off the fiscal deficit. Government should & must realize the various revenue streams & should control the expenditure. Only 37% feels that the F.M. has sufficient plans to reduce the fiscal deficit.
Overall the F.M. has directed the path of reforms without slowing down the economic recovery Survey reveals that our Budget 2010 scores on fiscal consolidation & tax reforms. Bottom line of this budget as per the survey is ?OVER ALL A GOOD BUDGET? with many people feeling that this is in the directions of writing a new chapter for the development of India.
Today?s Chanakya interviewed a random sample of 15020 aged 25+ between Feb 26th (date of budget) to 5th Mar 2010 across the whole country & data was weighted to the profile of all adult aged 25+ by sex, age, social class, household?tenure, work status, including professionals of all sections of different societies from various fields & sectors. The survey samples also included Corporates & employees of listed companies, Private players, Medium & small scale enterprises along with individuals spanning from upper income strata, mid segment & lower mid segment trying to make a representative of all the economic classes. The targets for the weighted data were derived from the National Census 2001 & other departments of government of India.
Most of the people surveyed were happy about the overall budget specially on no major imposition of taxes, along with the continuation of export friendly incentives.
People were very optimistic that India is a growing economy next only to china, but they feel it will require some strong measures & unidirectional decisions for various infrastructural development to reach the 10% GDP mark.
An overall view of the sentiments applied with common sense that if the Petrol & diesel prices increase it will definitely make some impact on the major core sectors like Industry & Agriculture.
A large number of people feel that these prices rise is a manipulation of the traders & stockers to earn profits & the government should take strong measures to curb such kind of black marketing. The interviewers had although no idea how the F.M. can control the food inflation but they had a strong confidence with their P.M. Dr.Manmohan Singh?s strategy along with his clean image & a strong desire to make India self sufficient & self reliable in all fronts of life.
THIS BLIND CONFIDENCE MAY BE VERY DANGEROUS FOR THE RULING CONGRESS LED UPA IF THE EXPECTEATIONS ARE NOT MET.
Most of the people had a clear idea that the natural sources of fuel are depleting very fast & they do feel that the future lies in the clean energy, be it solar or wind. With a vast scope of Solar energy which can be harnessed & the same with Wind, although much wind power generations are working in southern India, a lot many people feel that this will be a good way of making India self reliant on the huge energy requirements & in turn saving a lot of foreign currency being utilized to pay on our oil imports.
This is a very good sentiment which 71% of the respondents feel. They do have a very strong feelings that the F.M. , without cutting down on the economic reforms has been able to successfully pave a new way for the overall growth which time only will prove.
This is but natural that no one wants to pay anything & would like to get everything. There was no other point where the opposition could have taken a head on with the F.M. which they tried to do at their best but not with much success. Interestingly when people were explained that the Petro prices rise is a MUST owing to the need for funding the other government schemes & for the development of Infrastructure, only 37% wanted a roll back of the Petro Prices.