Highlight of Vote on accounts (budget 2014) 2014 of UPA government

Dear Friends,

You must be wondering, this year in India why instead of calling it budget, it is being called vote of accounts, well there is a difference and reason too.

When we say word budget, it means overall accounting including income and expenditure. When we say Vote of accounts, it particularly deals with only expenditure, it has nothing to do with the overall accounting.

Our parliament i.e. Loksabha has completed 5 years and there is barely 2 months for the general election. Starting from 16^th April 2014, the Loksabha elections to be held on multiple phases and it is 16^th Loksabha i.e. house of people after gaining independence in 1947 and being republic in 1950. In vote of account, government seeks only those amount which is required to meet the expenditure till the end of the tenure. When next government will be formed, they will introduce the full budget.

Analysis of Vote on Accounts 2014 (it is not the 2014 budget, please note)

Well, Indian National Congress is the most corrupt political party and to remain in the power, they do anything including bribing the general people alongwith MPs and other political parties. They introduce various plan in the name of Indira Gandhi, Rajiv Gandhi, Sanjay Gandhi, Jawaharlal Nehru and so on taxpayer’s money to show that they have done great things for the nation and drain our national wealth like anything.

If we see the current vote on accounts, it seems that P Chidambaram as well as the congress led UPA government tried to lure maximum voters, the middle class.

Let us see them and the remarks

Highlight of vote on accounts

Sr. no.	Particulars	Comments
1	Fiscal deficit for current fiscal to be 4.6%	It is a good sign. At least we will not moving towards bankruptcy.
2	Revenue deficit estimated at 3% for current fiscal	So what provision government has done all these years to fill the gap?
3	140m people lifted out of poverty in last 10 years	It is a bull shit. If you say that a person who has earned more than Rs. 26 per day i.e. around 0.4 USD per day is lifted poverty line, calculate the living cost. If you earn less than 2 lakhs Rs per month, you cannot buy a flat in Thane, a satellite city of Mumbai forget about Mumbai itself. Even a cup of tea cost 10 Rs minimum. So the data is misrepresenting, out of the facts.
4	Excise duty on SUVs cut from 30 to 24%, in large and mid-segment cars from 27-24% to 24-20%	Who need larger consumption of SUV? How the middle class, lower middle class and poor going to get benefit from this excise cut? The whole motive is under questions.
5	Excise duty on small cars, motorcycles and commercial vehicles cut from 12% to 8%; appropriate cut to be done on chassis, trailers	This is another wrong move. We need more taxes on vehicles to cut down the vehicles, to save environment. More focus should have been in improving public transportation system and decentralization of industries.
6	A Rs 100 crore scheme formulated to promote community radio stations: Chidambaram	This is hardly going to have any impact and not required at all.
7	RBI must strike a balance between growth and moderating inflation, Chidambaram says	No comments
8	We must focus on manufacturing, specially manufacturing for exports: Chidambaram	We are saying this for years but what is the end result. What have all government done to stop corporate bribery, corporate corruption, red tapism and how much government has helped industries to flourish. Recently one of my friend had been to Oman. He shared his experience that they have a less paper formalities to establish the industries and the condition is you cannot bribe anybody. You have to bring all required approval but taking approvals are hassle free. The similar way many people may think to opt out of India for a better benefit of growth and business.
9	I am disappointed that we could not introduce GST: Chidambaram	Everybody has their own self motive. The moment all the government work towards helping to build a better nation such issues will never arise.
10	No changes in tax laws in interim budget	How does it matter? There is hardly 2 months left and whoever will win, will definitely bring some new taxes. We pay heavy taxes but where it is spent, it is never visible.
11	Govt has obtained information in 67 cases of illegal offshore accounts of Indians: Chidambaram	Are they only 67? There must be thousand. Was it so difficult in these 10 years to bring those black money/ national wealth back?
12	Excise duty cut from 12 to 10 per cent in capital goods sector to stimulate growth	I do not see it will yield any result.
13	Excise duty on mobile handset to be 6% on CENVAT credit to encourage domestic production	First of all how many companies are producing handsets in India? I recollect only Nokia and Cellkon. We are used to of cheap Chinese materials. This is hardly going to help us to increase GDP.
14	Excise duty on small cars, motorcycles and SUVs reduced	It was not required at all. We need to make cars and bikes more expensive and increase public transportation quality to save environment. Government has again tried to bribe lower middle class and middle class.
15	Service tax relief storage for warehousing for rice	May be considered as a good move.
16	Blood banks to be exempt from service tax	Good move. At lest the consumer will be relieved. Government blood banks do not function well and private extracts money.
17	Rs 500 crore estimated requirement for implementing one-rank-one-pay scheme for armed forces in 2014-15	Is not it another attempt to bribe ex-army personnel? Why government decided on this just before the election.
18	Rs 6000 crore to rural housing fund, Rs 2000 crore for urban housing fund	Again a bullshit. I have not seen the slum converting into proper homes, all these money will go to pocket of politicians and babus only. Further, do we want to encourage slums that you encroach the land, build slum and after 15 years on taxpayer’s money you will get a standard home?
19	Minority bank accounts have swelled to 43,53,000 by 2013-14 from 14,15,000 bank accounts 10 years ago	Should not we considered to develop whole India as one nation instead of dividing them? Who is minority?
20	Rs 3711 crore for minority affairs; housing and urban poverty alleviation gets Rs 6000 crore	Bribe for government officers
21	Social justice ministry gets Rs 6730 crore; panchayati raj ministry Rs 7000 crore	What social development have you done so far?
22	Moratorium on interest on student loans taken before March 31, 2009; to benefit 9 lakh borrowers	Another attempt to bribe young generation. Take loan for education and pay years to the same. The final burden will be on taxpayer. Could not you deliver a better education system at cheaper price. If FMS can offer MBA at 12500 per month, why IIM charges 18 lakhs? What is the logic? Cannot we have good B school with 12500 as a fee?
23	Public Debt Management Bill ready	No clue
24	Fiscal deficit target of 3% to be achieved by 2017	If they remain in the government
25	Fiscal deficit to be contained at 4.6% of GDP in 2013-14.	Wait and watch
26	CAD will be $45 billion in 2013-14
27	Foreign exchange reserves up by $15 billion	One of the good sign
28	Foodgrain production estimated at 263 million tons in 2013-14	But it is rotten on godown. Why our people are hungry.
29	Agriculture credit will cross $45 billion against $41 billion in 2012-13
30	296 projects worth Rs 6,60,000 crore cleared by Cabinet Committee on Investment by end January 2014	All on paper
31	Merchandise export to grow by 6.8% to $326 billion	Expected, not sureity
32	3 more industrial corridors — Chennai-Bangalore, Bangalore-Mumbai, Amritsar-Kolkata — under various stages of implementation	So land cost will increase but employment will not
33	GDP growth rate in Q3 and Q4 of 2013-14 will be at least 5.2%	We are far below
34	Declining fiscal deficit, moderation of CAD, stable exchange rate and increase in project implementation result of hardwork
35	Power capacity rises to 234,600 MW in 10 years	Still most of the India is dark, people face load shedding of 6 to 12 hours in most part of the country even in Chennai
36	Expenditure on education has risen from Rs 10,145 crore 10 years ago to Rs 79,251 crore this year	But no quality improvement, in fact it has gone down
37	Sugar decontrol, gradual correction of diesel prices, application for new bank licenses, sick electricity distribution companies restructured	So few bribe for industries too
38	Average growth under UPA's ten year rule was 6.2 per cent against 5.9 during NDA period of 1999-2004	Please show the factual data. You are taking about condition of 10 years back and now.
39	Average growth under UPA-I was 8.4 per cent and UPA-II 6.6 per cent	On paper, nothing in reality.
40	PSUs to achieve record capex of Rs 2,57,645 crore in 2013-14
41	500 MW fast breeder nuclear reaction in Kalpakkam to be ready shortly; 7 nuclear power reactors under construction	Do we really needed it? What about cost to environmental pollution and the cost we need to pay to buy uranium? It was aproduct of huge corruption. We need clean energy not the dirty one/
42	National Solar Mission to undertake 4 ultra mega solar power projects in 2014-15	It will never happen.
43	Rs 1,200 crore additional assistance to N-E states to be released before end of the year	And the NE are still under developed, our brother and sisters from NE are still treated as alien
44	Rs 1,000 crore grant for Nirbhaya Fund will be non-lapsable; another Rs 1,000 crore to be given next fiscal	Will it provide security to women, will it change attitude
45	Rs 3,370 crore to transferred to 2.1 crore LPG users	You paid bribe on taxpayer’s money, our hard earned money
46	Govt committed to Aadhaar-based LPG transfer but scheme on hold temporarily	No need, rather government should make people economically independent, don’t bribe them
47	Aadhaar is tool for empowerment	It is for corruption. You coerced and Aadhar agent charged 300 to 1000 from people. It is a hige wastage
48	Non-plan expenditure to exceed by a small amount in 2013-14
49	500 MW fast breeder test reactor in Kalpakkam to be ready shortly; 7 nuclear power reactors under construction
50	Plan expenditure will be Rs 5,55,322 crore in 2014-15, unchanged from last fiscal
51	Budgetary support to railways increased from Rs 26,000 crore to Rs 29,000 crore 2014-15	But nothing has improved. Condition of locals are worse than the public urinals in Mumbai
52	Rs 2,46,397 crore allocated for food, fertilizer and fuel subsidy	But nobody got the benefit except babus and ministers
53	Food subsidy will be Rs 1,15,000 crore for implementation of National Food Security Act	This is another bull shit. Have you seen the quality of the food grain? Have you seen how many people got benefit from it? It was a huge bribe to poor so they should vote congress.
54	Defence allocation increased by 10 per cent to Rs 2.24 lakh crore	No comments

That’s all

Your all comments and view are welcome

Govind