More for more: On the Union Budget and allocations
Budgets of the Union or the States, as much as they are revenue and expenditure statements for the upcoming fiscal year, are also an exercise in political economy, and the recently tabled Union Budget for 2024-25 is no different. Aside from the “nine priorities”, beginning with provisions for the farm sector and attempts to boost employment, Union Finance Minister Nirmala Sitharaman delved at some length on the special provisions made for the States of Andhra Pradesh and Bihar. The Janata Dal headed by Bihar Chief Minister Nitish Kumar, and the Telugu Desam Party headed by his Andhra Pradesh counterpart N. Chandrababu Naidu are parties associated with the convenership of the National Democratic Alliance in the past. But by making piecemeal allocations for projects in the rest of the country, as for the Mumbai Metro rail, and by ignoring other similar critical infrastructure spends in Opposition-ruled States, Ms. Sitharaman has failed to provide a fair and equitable distribution of the Union’s finances. While the debt-ridden and poorer regions of the country rightly deserve greater attention, ignoring States that generate the most revenue for the Union runs the risk of slowing down development that has acquired critical mass to enable these States to become global economic powerhouses.
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