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Sunday, February 17, 2019

Advantages of election budget to BJP; Review

By on Sunday, February 17, 2019

Kshitiz Kant; Lucknow
The 15 days of Modi Government’s interim budget have passed. The announcements of alluring the farmers and the middle class in this bluffed interim budget have been comprised. The favouring campaign from PM to Ministers is constantly being carried out. The intellectual class is siding the view of the BJP favour that the announcements made in the  interim budget can take the election benefit from the farmers, working class and the middle class; but, what the Modi Government, seeing election, has made the announcement, is all these to make some big advantages in the election?
3 announcements in this budget can be said important in all. the first of these is Rs 6000 annually to be given to the farmers of the country. Second, the amount up to Rs 5 lakh taxable income shall be tax free. Third, the working classes of non-organised sector have been given Rs 3000 pension scheme. if let the budget be understood as Modi government’s election budget, it is hovering around these schemes.
As if let it be seen in election way, the Modi government is in the big concern of farmers. The concern of it has grown after the defeat in the Assembly election held in the 3 states. Trios are the agricultural based states, and the election issues here regarding farming have its own tune. How the farmers’ loan waiving announcement by congress ,how much its effect emerged, may be the thing of a separate analysis, but this has created a trouble almost for the BJP.
The BJP to recover from the side effects of this has announced to pay Rs 6000 annually to the farmers, and to appear it on the ground, it has been implemented from December 2018 sidelining all the traditions instead of the next financial year.
The Modi government is in effort that the two instalments of the Rs 4000 of Kissan-fund should be anyhow transferred into the farmer’s accounts before the election. The bureaucrats are toiling to transfer this fund into the accounts of 12000 crore farmers. But the money transfer in their accounts, the farmers shall need their papers of land and to fight from the corruption at the Tehsil level. May the Rs 500 influence so much any farmer that he will franchise their votes in the BJP favour. In addition to it, the land distribution in the villages is like in this way that  on being alive head of family, his son or other close relatives have been farming on this land after mutual allocation; while the land become in the name of single man. Either the money shall be credited to this account in such condition, or all the farming men shall be out from the Kissan- Nidhi-Scheme on being land more than two hectares. Whether the government has estimated so or not, but the discussion at village level has begun. It is clear that even if the cash payment scheme to the farmers provides some election advantages, the arithmetic of two and two shall not result so – four! As the BJPs strategists are thinking. The states where the government is not BJP led, the hurdles are tougher there..
The cash payment scheme to the farmers is not so hefty amount; the state of Telangana pays Rs 8000 per annum to the farmers and the government of Orissa is carrying the scheme of Rs10000 per annum to pay the farmers.
It is not clear so far whether the farmers of these states shall be benefitted from both the schemes, or the centre and the state both shall decide some shares in the funding. If the farmers of both the states receive the benefits of both the schemes, it is possible that the cash payment schemes to the farmers may get the momentum in the states before the parliamentary election. The experts view that non BJP government in the states may announce some big schemes for the farmers before imposing of model code of conduct in the states in spite of being economically weak.
The political-economic expert view that such schemes for the farmers may work as a catalyst in view of the election advantage, but it cannot be its base suddenly. The farmers can be influenced by the cash payment schemes, but that they let leave the other equation for this purpose is impossible to be so. For example, the middle agriculturist sects in the Uttar Pradesh and in Bihar are carried out besides farming even from other factors like cast-ism, and that the social equations can be effected just by Kissan-fund looks impossible.
The middle class got almost a little relief in the income tax, but the happiness of service class has now redirected what they got hearing the budget speech by the finance minister Piyush Goyal. That the income upto Rs 5 lakhs were assumed tax-free is basically the 'taxable income' up to 5 lakhs. As soon the experts clarify the concept of this concession, the hope of service class, whose taxable income goes over the 5 lakhs, went on nullifying.
That the finance minister had giving example told how the Rs 10 lakh earner could save the income tax is possible then when you had borrowed home loan, the health insurance and the maximum saving of income. it is clear that frequently it is not possible. In such condition, the earners of up to Rs 7 lakhs shall have to pay the income tax on old rate.
It is a technical thing, but middle class is the BJP supporters commonly. This class becomes unhappy with the high tax and their voice echoed very much in the communication medium, but mere this thing cannot change the voting pattern. The service classes have mix reaction over the concession in the income tax. The experts admit that the rebate on the taxable income up to Rs 5 lakhs shall be more beneficial for the small businessmen who will increase their taxable income up to Rs 5 lakh showing high expenditure. The service class shows themselves neither happy nor sad.
Third, the bigger scheme is about the pension for the non organised working class. the people after 60 years age shall be eligible to get Rs 3000 per month pension if they pay the contribution of Rs 55 per month. Such schemes always have been difficult to applicable among the non organized working class. Experts admit that the pension scheme after 60 years age among the non-organised sector in the wake of political benefit does not attract very much. How shall this be implement is not clear so far, so it seems that it shall not motivate the people.
The announcements of interim budget are election backed budget, but this announcement looks not effective much on its own strength in the election. Yes, if any political-social equation gets the help of these, the thing is different.