The Hindu Business Line : Spotlight on inclusive intent of Budget 2008-09

At a time when the country is talking about the Union Budget 2008-09 and its impact, IIPM Chennai tried to clear the air by organising a colloquium on the topic: ‘Union Budget 2008-09: Is there any inclusive intent?’

A panel comprising top economists in the city evaluated the Budget’s intent on the inclusion of the interests of the country’s 836 million people who survive on less than Rs 20 per day. The colloquium was held under the aegis of the BL Club lecture series.

The panelists included Dr R. Swaminathan, IAS (Retd), Formerly Secretary, Board of Directors, Asian Development Bank; Mr B. S. Raghavan, IAS (Retd), Former policy adviser to UN (FAO) and former Chief Secretary to the Governments of West Bengal and Tripura; Mr M. R. Venkatesh, Chartered Accountant and Economic Analyst; and Prof S. Radhakrishnan, Managing Trustee of Institute of Economic Education.

The discussion sought to answer three questions: Firstly, does the Budget have adequate allocations and policy announcements for the social sectors – namely health, education, and employment? Are the interests of the weaker sections being given priority to reduce economic inequality?

Second, is there a targeted approach towards reducing social inequality which could, in turn, bring down economic inequality? Has the Finance Minister taken adequate measures to uplift the the minorities, the Dalits and backward communities?

Thirdly, have adequate measures been taken to increase growth in the agriculture sector to match the growth story in the industry and the services sectors?

The audience comprised faculty members and students from different B-schools. A compendium summarising the alternative views thrown up by the colloquium has also been published.

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