If I were Finance Minister…

Most Finance Ministers are considered wise men - right hand man of the Prime Minister. I certainly do not qualify for it. But still having reviewed government finances, I feel now every housewife should help the Finance Minister prepare the Budget. I have heard that wives of many Finance Ministers, including of Manmohan Singh, were unhappy with the budgets presented by their husbands.

My wife throws a challenge. “You claim to know so much about the Budget. You have been the worst critics of Finance Ministers. Why don’t you prepare one for me? At least prove me wrong”. She even threatened like the tax man: “If you don’t, I will stop preparing food for the family”. With a glum face, that is how I have seen most Finance Ministers, I sit down to prepare the onerous national duty.

I shall abolish income tax
“Do you want the government to starve”, she asked like a capitalist-communist. I feebly explain: “The government wouldn’t be a bit poorer. Of course, many tax officers would lose a lot. The government could do well to sack at least two-thirds of them and save over Rs 2 lakh crore – more than Rs 1.75 lakh crore that I-T brings. It would also save lakhs of people harassment.” She agrees, but adds: “Why should the I-T officer and his gang agree? You don’t know the dynamics of dealings”. I said, “You are right, but Prime Minister wants a clean India and I want to help him.”

Abolish TDS on bank deposit
Anju said, “That is sensible. I have lost much. But I can somehow bear it. But do you know my maid complained she lost sums for keeping her money in the bank. I have advised her not to do it again.” This was my turn to be furious: “You have done great disservice to the nation. If people won’t put money in banks where would the government get money to borrow and run the administration?” Cursing me, she said, “Government should be honest and shouldn’t loot poor man’s money” She was making sense.

Abolish highway toll
She said, “Cannot you think of except abolition?” She wasn’t wrong. I argued, “Do you know each time you pay for patrol, government steals Rs 2 as road cess. There is almost Rs 1 lakh fund.” She said, “It seems you are right though I don’t understand what fiscal deficit is.”

End Education cess
I tell her, the government is charging cess too for education. But do you know the education shops have been sold to private looters, sorry educators. They are bleeding us. She said, “You are right. My father used to say that schooling was so affordable and quality was good. If the Government can’t do its duty, why should it levy any charge?”

Make agriculture fundamental of economy
Anju disagreed. “You would remain in the medieval ages… If their land is used for industry so many jobs can be created and they could live like babus”. I replied: “If kisan wouldn’t till the land, where would you get your basmati rice, MP Sona wheat, the delicious fruits and vegetables? Do you know over 75 crore people of the 125 crore population still subsist on farming? No industry can give kisans jobs. He would come to the city with a begging bowl. Would you like that?” She says, “You are right”.

Strengthen rupee
She said, “You are a swadeshi brat. What would a strong Rupee do? It would make our exports expensive and nobody would buy Indian products. How would you manage current account deficit”. I explained: “Stronger rupee means Indians would have power to buy goods and fuel cheap from world market. Your forex outgo would be less. And about exports I am hearing the same arguments since US President Lyndon B Johnson befooled former Prime Minister Indira Gandhi with this argument in1965 and forced her to devalue rupee for the first time.

Then rupee rose from Rs 4.50 to Rs 7.50 to a dollar and now it’s at over Rs 62, but the argument remains. Don’t worry, a stronger rupee would bring in more foreign currency. India would become the world market hub and the best place to live”. She nodded.

By: Shivaji Sarkar