Page 12 - Seniors Today - February Issue
P. 12
Money Matters
Reflections on the
Union Budget 2021-22
Anil Harish looks at the nitty-gritty of this year’s Budget
Article 112(1) of the Constitution of India This should be in terms of the activities
says, “The President shall in respect of every and programmes as well as finances. We
financial year, cause to be laid before both should be informed for example, of how
the Houses of Parliament, a Statement of the many hospitals have been opened, how many
estimated receipts and expenditure of the more patients have been attended to, what
Government of India for that year”. is the position of schools and colleges, is the
The Budget is, accordingly, to be primarily enrolment increasing, what is the quality of
an estimate of revenue and allocation of funds education being imparted, Social Welfare
for expenditure. programmes etc.
Along with the Budget, amendments to the Each Minister should show us his or her
tax law are proposed, because tax is one of the report card for the year and how the Ministry
important sources of revenue. has fared in terms of quality and quantity of
So, these forward-looking statements are work and also the plans for the future.
mandated by the Constitution. We need to know, also, for instance, how
But I wish that the pattern could change. the Nirbhaya Fund which was set up several
Instead of just a Statement of Estimates of years ago was used or misused, and also why
Income and of how money will be allocated, 89% of the funds have not been used.
we should have an Annual General Meeting The Finance Minster should then give an
for the country to inform us of what was overall picture of the finances, based on the
planned to be done and what has actually working of the Ministries.
been done. The need, therefore, is for accountability.
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