March 2, 2012

ALTERNATIVE BUDGET: A Budget for Rahul Gandhi

The future of the inheritor, and more importantly, of India, depends on fighting corruption. Here is how Pranabda can use the Budget to tame the monster

February 28, 1958: “While we should always be prepared to reconsider the methods we adopt, should this become necessary, we have to strive with all our strength for our planned development by conserving all our resources, increasing production and trying to ensure progressively a more equitable distribution and to thus raise the standards of the great mass of our people,”

- Jawaharlal Nehru as Union Finance Minister


February 28, 1970: “It is generally accepted that social, economic and political stability is not possible without the growth of productive forces and the augmentation of national wealth. Also, that such growth and increase in wealth cannot be sustained without due regard to the welfare of the weaker sections of the community,”

- Indira Gandhi as Union Finance Minister


February 28, 1987: “Twenty nine years ago, presenting the country's Budget, Jawaharlal Nehru told this house [that...] we have to strive with all our strength for our planned development by conserving all our resources, increasing production and trying to ensure progressively a more equitable distribution and to thus raise the standards of the great mass of our people…Our principal objectives are the elimination of poverty and the building of a strong, modern, self reliant independent economy,”

- Rajiv Gandhi as Union Finance Minister

Some of you would be aware of how and why these three former prime ministers also had to don the hat of a Union Finance Minister. For those who haven't found time to check out this bit of deliciously ironical history, here is a brief recap. In 1958, the son-in-law of Nehru and Indira Gandhi's husband raised uncomfortable questions about the role of the then Finance Minister T.T Krishnamachari in what became the “Mundhra scam”. TTK, as he was popularly known, was forced to resign in February 1958 and Nehru had to temporarily take over as the Finance Minister. In 1969, the Congress party split and the then Union Finance Minister Morarji Desai quit the government. Desai was strongly opposed to the “socialist” vision being gradually adopted by the then Prime Minister Indira Gandhi. She preferred to take over the Finance portfolio after the exit of Desai. Her titanic tussle with Desai and its consequences resulted in the ‘license permit' and ‘inspector raj' era, issues that continue to haunt India till date. In 1987, V.P Singh, a loyal and trusted aide of Indira Gandhi and Rajiv Gandhi, was ready to present his third successive budget to the nation. Prime Minister Rajiv Gandhi, for reasons future historians will be better able to explain, shifted Singh and chose to present the budget. Within a few weeks, the Bofors scam started tormenting him.
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13 comments:

Gaurav said...

an "aam aadami" can present better budget than the ones presented by our FMs.

Mahes kumar said...

nice article and a great budget indeed for Rahul Gandhi !!!

Sumit said...

great suggestions by Arindam Chaudhuri.

Vishal Sharma said...

Corruption is a problem that must be fought Collectively.

KISHORE KUMAR said...

Its been so many years that our ministers have been talking about eradiaction of poverty and raising the standards fo living of the masses........if they really want this then why have they failed continuously?????

Sanu said...

The govt. should think more about the black money.... I they are able to get that back then everything will be perfectly fine.

anuska said...

I don't think the budget formulated by the FMS are made keeping the poor people in mind or else the situation in India would have been different.

Pyush said...

Rahul Gandhi is a hope for millions of poor people and i just hope he doesn't dissapoint them!!!!!!!

gurmeet said...

The budget that is formulated every year is not as bed as use think because our finance ministers wand to boost our agricultural and nothing wrong with that.

ravi said...

The budget presented by our finance ministers favour only resourceful people and the ones who are affluent and are able to hide their reality......what about our poorer section who struggle even for the basics of life......?????

Gagan said...

please think about poor & middle class people before presenting your bill!!!!

Diptimayee Nayak said...

We need people like Arindam Chaudhuri,who can provide better guidelines,to be in the cabinet if we really want national growth & development.

PRAKASH IIPM said...

Sir, One question.......

What does the emergence of Asia as a major engine of global economic growth mean for companies operating in the region? How are companies positioning themselves to capitalise on Asia’s growth opportunities over the next few years?

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