Budget 2015 misses the important questions:
Budget of India for 2015 passed by Parliament of India with usual rhetoric and careful negligence to important aspects. Opposition which was in power till yesterday is as bereft of constructive criticism as it was out of ideas when in power.
Finance Minister called the economy as recovering economy in his budget 2015 speech. That sums up. Like recovering patient, the economy is in hospital and can not do much for others. Therefore it has to be nursed before it can do anything for others. So what the finance minister did? Raise the tax rate for all citizens and reduce the corporate taxes. His logic is that corporations are needed to invest and to revive economy.
Thus except for small matters, this budget is a status quo.
Economic problem of India:
The worst problem for economy is the Government Expenses and Interest payout on borrowings. 98% of revenue goes into these two heads. Continue reading