Sell as they may

Annual budget might not have the significance as it used to have once. It was the period when people used to hook to their radios and Black & White television sets to apprise themselves of the latest cutbacks and increases. In a socialist economy everything was determined by the state. However, after the advent of liberalization, budget lost its sheen. As markets became more and more active, prices became dependent on the market rather than the views of some bureaucrat at South Block. However, business still has the considerable interest in it. If someone invests his vast some of money, he might want to know the environment under which it is being managed. After all, policy cannot be market determined.

But, the nation has become more literate than it was in 1991, when first doses of liberalization were provided. Now most of the people can claim that they are financially literate, and they know markets. Even if they have being bugged down by at least three to four stock market scams, including one hitting straight after the 1991. But still excitement is such that everyone wants to play with the fire. Fire after all is the symbol of power.

But every game has its rules. And in this game most important rule is ‘information’. Information which forms bedrock of any decision, any business and probable Weapon of Mass Destruction. Those who are in the business of ‘information’ certainly know how to sell one.

Spicing up! Is what you will see when you pick up any newspaper. Take out any issue of any post-budget day newspaper and you will get a more than example. There are doses, of the economic health, of the budget history, of great Indian family, of Indian resilience (whatever it might be), and of hope. There are talks about great Indian family saving the member from the trauma of recession, from the pink slips, from depression. And there are articles, articles and more articles. Articles claiming to contain inside views, claiming to contain more information, claiming to contain more insight.

The newspapers claimed that they get everything examined from every angle. The articles contain perspective. The perspectives of the people who are experienced. The perspective of the nation’s who’s who. These articles are not served alone; they are garnished with flashy graphics, informative statistics and canny quotes. It’s special after all, so it is a sellout, even if free copies of the same have to be doled out. It’s big and bountiful, likely to be grabbed by everyone. But how many actually read the entire content.

However, the question remains, is all information sold is valuable? Does government policy and bureaucratic procedures are affected by ‘opinion’ of any particular person. The answer is simple no. Such might affect judicial rulings, but governments aren’t known to give much thought to individual opinions. After all, economic policy just can’t be challenged on court.

But something has to be sold. Sell as they may, irrespective of the significance of what’s being sold. Its volume and contents, value! Anyone can derive from it. Because the people, they are experts. And when some other economic incident strikes the shores, again more information will be provided. Who cares about the eventual outcome, selling is an art. Buyer is always beware.

Who cares about eventuality, even if jingoistic feeling raised during the purchase of Corus and JRL, are now being considered stupid and out of the way. If a nation is buying, then what is the point of being not selling?

© Tarun Mitra

The funny side of the Annual Budget

Budget making is a serious exercise, it operose when the exercise relates to the government of one-sixth of the humanity. Adding on to this voluminous package, the modern electronic media has ensured that is reviewed by so called analyst, news readers, economist, businessmen, lay man and any other man the agencies can lay their hands upon. Just for the sake of the common man to understand that he has to pay his taxes, directly or indirectly, to fund his government’s expenditure on him. A business of real serious nature, giving someone the part of your money to spend it on you in a manner they like.
But sometimes the budget, the Finance Minister’s speech and the provisions, contains something that might tickle the funny bone. It might be his pronunciation of ‘verb’ as’ bharb’ (commonly done by the Bengalis, even my mother spell it like this only) or some liability which is in existence for more than 60 years now. Seems like a case tethered in Indian Judiciary, well not like that, but it is the debt of Rs. 300 cr. owed by Pakistan towards India as pre-partition debt.
The particular piece appeared in www.expressindia.com, which states that this liability is being carried forward since independent India’s first budget. More interesting thing is that India has met her liability of Rs. 50 cr. to Pakistan, but the good neighbor still owes this money. It may also be added that no interest is being charged on this amount and the amount has also not being inflation adjusted.
Well no body knows or shall come to know how many F-16 (or J-10 if you like Chinese) fighter Pakistanis might have bought out of this money. And for India, if it considers as a big superpower can’t just write the amount off, just as a show of generosity.

© Tarun Mitra

Reference
The data is based on the article appeared on www.expressindia.com (http://www.expressindia.com/latest-news/Past-receipts-Pakistan-still-owes-India-Rs-300-crore/485726/)