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LATEST NEWS UPDATES | Are NDA and UPA budgets radically different? -Tadit Kundu

Are NDA and UPA budgets radically different? -Tadit Kundu

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published Published on Feb 6, 2017   modified Modified on Feb 6, 2017
-Livemint.com

Whether the present Modi-led NDA government can live up the legacy of high capital expenditure by the Vajpayee government is the big question

Arun Jaitley presented his fourth budget on 1 February 2017. This budget would be remembered for historical breaks from its predecessors due to dropping of plan versus non-plan expenditure categories, merging of railway budget into Union budget and advancing of budget date by a month etc.

While these are important changes, a more fundamental question is whether the BJP-led NDA government’s budgets are radically different from Congress-led UPA’s budgets. Both these political formations have ruled the country since 1999.

Simply speaking budget is an exercise where the government announces its spending plans for the forthcoming year on the basis of projected earnings and gives an account of the same announcements it made in the previous two years. Therefore, budgets should fundamentally be judged by how spending is allocated and whether the government is able to honour these commitments.

Has the overall spending pattern changed?

To be sure, a large part of budgetary spending is pre-destined on account of interest payments, salaries and pensions, defence spending and subsidies; as was pointed out in an earlier Plainfacts column. The latest budget has allocated 61% of the total union budget spending on these four counts for 2017-18, same as previous year and actually slightly higher than the average value of 59% during the decade when UPA was in power.

Given this similarity, it is not surprising that broad trends in spending pattern of UPA and NDA budgets have not undergone much change.

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Livemint.com, 6 February, 2017, http://www.livemint.com/Politics/vGyN2gAObDV3TK3ZAw7jSP/Are-NDA-and-UPA-budgets-radically-different.html


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