Visiting Stadium near Lodhi Road; are we fiscally prudent
Visiting Central Delhi on a Sunday was an exercise not rampant with a surge of crowd which by nature does not believe in a Sunday bout. Taking a metro to Central Delhi, the rush and response suggested more were at home to get the requisite dose for their belly.
After the morning assignment as i left for home, i could spot people from Northeast and other zones. Not desirable has been the hike in circle rate in the capital as the city can't be seen as a place to stay as a never-ending battle. To shore up revenue, the govt in the previous years hiked circle rate by unimaginable proportion leaving door for middlemen and muscular elements to have a field day. If muscular elements and middlemen are going to run the affairs whom you would trust in a city that is run on fear.
Visiting Stadium the other day, one thought of the investments that went to redo it and a parallel structure that sits next to it. Games were a huge drain on the resources and try not to commit to an agenda where money flows like water. Games could not engineer the flow of tourists as expected, perhaps during that time most believed that the tourists that would come would take every hotel/lodge and house converted to the same with a temporary nudge. Domestic tourists are enough given the rampant salaries people are getting in private and govt. sectors. Most working in the govt. sector would find this offensive but the fact of the matter is if you begin to save, the salary is enough to play. As for the budget the best course should have been to peg fiscal deficit at 5.2 to 5 per cent of GDP. Why settle for an unimaginable target when fiscal consolidation looks to be remote given the pushing of subsidies to oil marketing companies to next fiscal, bringing down allocation for different ministries by a huge margin. Audit of oil marketing companies can be a course correction of sorts. To top it all one takes credit in setting of a seventh pay commission when there are a host of states which have not implemented the sixth pay commission recommendations. From where all are you going to have revenue to meet the newly declared social obligations like right to education and right to food security. How the govt would be fiscally prudent in the next fiscal is a hard to tell, mind you spectrum auctions don't come every year. Fiscal deficit at 5.2 to 5 per cent of GDP should be the goal to be pursued.
Visiting Central Delhi on a Sunday was an exercise not rampant with a surge of crowd which by nature does not believe in a Sunday bout. Taking a metro to Central Delhi, the rush and response suggested more were at home to get the requisite dose for their belly.
After the morning assignment as i left for home, i could spot people from Northeast and other zones. Not desirable has been the hike in circle rate in the capital as the city can't be seen as a place to stay as a never-ending battle. To shore up revenue, the govt in the previous years hiked circle rate by unimaginable proportion leaving door for middlemen and muscular elements to have a field day. If muscular elements and middlemen are going to run the affairs whom you would trust in a city that is run on fear.
Visiting Stadium the other day, one thought of the investments that went to redo it and a parallel structure that sits next to it. Games were a huge drain on the resources and try not to commit to an agenda where money flows like water. Games could not engineer the flow of tourists as expected, perhaps during that time most believed that the tourists that would come would take every hotel/lodge and house converted to the same with a temporary nudge. Domestic tourists are enough given the rampant salaries people are getting in private and govt. sectors. Most working in the govt. sector would find this offensive but the fact of the matter is if you begin to save, the salary is enough to play. As for the budget the best course should have been to peg fiscal deficit at 5.2 to 5 per cent of GDP. Why settle for an unimaginable target when fiscal consolidation looks to be remote given the pushing of subsidies to oil marketing companies to next fiscal, bringing down allocation for different ministries by a huge margin. Audit of oil marketing companies can be a course correction of sorts. To top it all one takes credit in setting of a seventh pay commission when there are a host of states which have not implemented the sixth pay commission recommendations. From where all are you going to have revenue to meet the newly declared social obligations like right to education and right to food security. How the govt would be fiscally prudent in the next fiscal is a hard to tell, mind you spectrum auctions don't come every year. Fiscal deficit at 5.2 to 5 per cent of GDP should be the goal to be pursued.
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