Loksatta chief hails Budget as "path-breaking"

Finance Minister Arun Jaitley has presented a "path-breaking" and "solid" Budget that has firmly set the direction for growth, social justice and job creation, Loksatta Party founder Jayaprakash Narayan said.
However, he could have done more - particularly in delivery of education and healthcare, and empowering local Governments, he said.
"Several social security schemes - accident insurance, pension plan, life insurance, senior citizens fund etc - if properly implemented, will provide much-needed social security to the unorganised sector and the poor," Narayan said.
The new law on black money stashed away abroad would certainly act as a deterrent against flight of capital or undeclared foreign assets. Similarly, strengthening the law against benami holdings and measures to promote non-cash transactions are steps in positive direction to curb domestic black money, the bureaucrat-turned-politician said.

Though the Budget is "impressive", "path-breaking" and "solid" in many ways, there are serious omissions in it, he said.
By accepting the Finance Commission's recommendations and increasing States' share of central revenues from 32 per cent to 42 per cent, the Government made a vital breakthrough. But local Governments are not yet treated as the third tier of federalism, Narayan said.
"The FM lost a great opportunity to transfer a significant share of States' devolution directly to local Governments, particularly for 'Swachh Bharat Abhiyan' and local service delivery. Ultimately citizen satisfaction is linked to participation, accountability and local delivery," he said.