Outline of 'One Nation, One Market, One Tax'

- Positive measures to control inflation

- Opinion-P.Chidambaram

- Government has helped 25 crore people to come out of extreme poverty: This and the provision of basic needs has increased the income of people in rural areas.

- A large number of new institutes for higher education like 7 IITs, 16 IIITs, 15 AIIMS and 390 universities have been established.

A good economy is calm and good economists accept the consequences of their policies. The Economic Survey, the President's address to the House on the first day of the first session of Parliament in the New Year and the Interim Budget presented by the Finance Minister are important government policy documents. Each of these documents shed light on the government's intentions.

The finance minister chose to use the bullhorn while presenting the interim budget for the financial year 2024-25. However, by the end of the second day after the budget was presented, the budget disappeared without a trace, which must have disappointed the finance minister.

I think the people of the country may be fed up and tired of the same claims being made by the government for the last ten years. Against the promise of providing employment to two crore people a year, few appointment letters have been issued to fill the vacant posts in government departments, while on the other hand, tech companies are reported to have retrenched 2.60 lakh employees in 2023. People have not forgotten the assurance given to bring back unaccounted money lying in India and abroad and deposit Rs 15 lakh in the bank account of every citizen of the country. The people of the country are well aware of the fact that scammers are running away from the country and performing abroad and have not been brought to India in the last ten years. The talk of doubling farmers' income, providing housing to every family by 2022 and making the country's economy five trillion dollars by 2023-24 has not been forgotten. So people have only got entertainment from the finance minister's claim.

Finance Minister: This and the provision for basic needs has increased the income of people in rural areas.

Fact: According to PLFS data and a report by Azim Premji University, the income of three types of workers (regular, daily waged and self-employed) remained stable between the financial years 2017-18 to 2022-23.

Finance Minister: The government has helped 25 crore people to come out of extreme poverty.

Fact: According to UNDP, the number of people lifted out of poverty was 27.50 crore (under UPA) and 14 crore (under NDA).

Finance Minister: Under the PM Kisan Samman Yojana, direct financial assistance is provided to 11.80 crore farmers, both general and small, every year.

Fact: As on November 15, 2023, the number of beneficiary farmers decreased to 8.12 crore. Landlords are compensated while farm laborers are excluded.

Finance Minister: A large number of new institutes for higher education such as 7 IITs, 16 IIITs, 15 AIIMS and 390 universities have been established.

Fact: The number of vacancies as on 22nd March, 2023 was in IITs (9625), IIITs (1212) and Central Universities (22106). As on 15th March, 2022, AIIMS Delhi had 1256 vacancies in Faculty and Residents. In other 19 AIIMS this number was 3871.

Finance Minister: 43 crore PM Mudra loans covering a total of Rs 22.50 lakh crore have been sanctioned for business entrepreneurship of youth.

Fact: The average loan size is Rs 52325. If we classify these loans as infant (83 percent), juvenile (15 percent) and young (2 percent), it is obvious that most of the loans are infant. Calculating the published data, 35.69 crore infant borrowers have received Rs 9 lakh crore. This means the average loan size is Rs 25217. What kind of business can be started and run in Rs 25000?

Finance Minister: Goods and Services Tax has created the outline of 'One Nation, One Market, One Tax' in the country.

Fact: The Goods and Services Tax Act is flawed and has become a tool for exploitation and torture of traders.

Finance Minister: Positive measures to control inflation have kept it within the policy band.

Fact: It seems that the understanding of the government and the Reserve Bank about the policy band is somewhat different. The Reserve Bank is trying to bring down inflation in the range of 2 to 4 percent, while the government is looking at the upper limit of 4 to 6 percent. In the five-year period from 2019 to 2024, retail inflation has averaged 5.60 percent. Food inflation has been 8.70 percent, milk 5.07 percent, fruits 11.40 percent and vegetables 27.64 percent.

Finance Minister: Timely and adequate credit, adoption of relevant technologies and appropriate training for development of MSMEs are our priorities.

Fact: Due to lack of government support, thousands of MSMEs were shut down during the Corona period. The figures obtained indicate that approximately two lakh crores of rupees have been released.

Unconstitutional Clarity: Loudness cannot suppress the truth.