Table of Contents
Thought Leader Hirav Shah first explains, what is a budget and what does it signify, in the language of a layman
Hirav Shah Says,
A Budget is the Annual Financial Statement of a Nation.
Budget basically talks about the Income & Expenditure of a Nation.
Budget is prepared by the Department of Economics by the Ministry of Finance.
The Name of the Budget as Per the Constitution is – “ANNUAL FINANCIAL STATEMENT” as per Article 112 of constitution of India.
Segregation
Annual Budget or Annual Financial Statement is divided into Three Parts-
1.Consolidated Fund of India
2.Contingency Fund of India
3.Public Account
Consolidated Fund of India
The taxes that are collected from all over the country by the taxpayers, are deposited in the consolidated fund of India and without the consent of the Parliament, the money from this fund cannot be withdrawn.
Only after approval from Lok Sabha & Rajya Sabha followed by signature of the President of India, the funds can be withdrawn.
Contingency Fund of India
This is also known as the Emergency Fund of India .
This Fund is placed at the disposal of the President and is maintained to make advances to meet urgent any unforeseen expenditure, subject to authorisation by the Parliament.
Public Account
This fund consists of Provident Funds, Fund in Saving Accounts, etc.
Parliament and government only can take care of the funds of public accounts but cannot use them as they belong to the citizens of the nation.
Hirav Shah Now Opines, As To What Can Make Farmers and Agro Based Businessman Happy, Generally Speaking…
1.Farmers are the backbone of any nation and yet they are the ones who commit the highest number of suicides.
2.The day they are self-sufficient and earn well to get their children educated, get enough money to run their household without the need to take debts, the day when rains do not torment them and when the harvest is good is what makes farmers happy.
3.Taking proper precautions for irrigating the fields and in case of water scarcity educating
the farmers on less water consuming crops.
4.Minimum Support Price for all crops.
5.Crop Insurance should be genuine and swift. No hidden costs and agendas.
6.Providing proper infrastructure for cold storages.
7.A check on the middlemen and their atrocities.
8.Provision of a unique number which can be valid all across the country so that they can avail all the schemes at their disposal.
After, understanding things to the depth lets now discuss the crux of matter which is –
“What Should Farmers and Agro-Based Sectors Expect From The Budget” ?
Thought Guru and Business Astrologer Opines,
“Agriculture sadly is an unorganised sector here, despite our Country being an Agro-Based Economy”.
Shah Pens Down How
1.In agricultural activities, wages paid to the labourers are lesser than the wages set by the government (as per the Minimum Wage Law).
2. Jobs in this sector are not permanent and many times farmer work by themselves or as hired labourers.
3. Farmers and agro-based businessmen do not get any employment benefits such as insurance, medical allowance, etc. that the workers in an organized sector are entitled to.
Hirav Shah’s Astrological Opinion
1. Government might give them indirect benefits.
2. Tax rebates might be considered for farmers and agro-based businesses.
3.Since the three farm acts have dismally failed, due to which still a number of questions remain unanswered ; hence disbursing funds directly into accounts may be re-considered.
4. It is important to go beyond reductionist practicality and utility, in considering agro reforms, knowing the critical significance of agriculture for sustenance, health, food security and also keeping in mind the susceptibility of our farmers.
5.In a nutshell, to uplift farmers and the related businesses, the budget of 2021 needs to cater to everything that our farmers have to face, being a part of this unorganised sector called Agriculture, which apparently is the Backbone and Lifeline of Indian Economy.
