Union Budget must focus on reviving investment, address rural distress | The Indian Express

Union Budget must focus on reviving investment, address rural distress | The Indian Express

Written by Yoginder K. Alagh |Updated: July 2, 2019 7:01:27 am

The writer, a former Union minister, is an economist.

Union Budget must focus on reviving investment, address rural distress

Rural distress is real. The first is to recognise it. Drinking water, improving efficiency of existing irrigation systems, rural finance, including temporary waiver of loan repayments, needs funds, which the affected states do not have.

In the finance minister’s speech, budget estimates should be compared to last year’s budget estimates and not with revised estimates as in recent budget speeches. (Photo: PTI)

For the Union budget, two priorities are important in the second quarter. The first is to finance a credible package of relief and recovery after a bad monsoon from the angle of drinking water and sowing. The second is to revive investment. The Economic Survey and the budget speech must, as in the past, reflect thinking on critical issues, and not focus on scoring brownie points.