Speech made by Dr. Bhalchandra Mungekar, Member Rajya Sabha, on annual Budget 2011-12
Mr. Dy. Chairman Sir, I rise to support the Budget 2011-12.
Sir, I congratulate the Finance Minister for presenting an inclusive, growth-oriented and balanced Budget.
Sir, Budget is not only a mechanism of allocation of resources, but also an instrument of income redistribution. Sir, as we know, in welfare economics, there is what is called Pareto optimality, which means that any set of income redistribution is desirable that makes some people better-off without making some others worse off. This Budget has precisely attempted to do that. Sir, I consider the budget "balanced" not in narrow, technical economic sense where revenue equals expenditure. It is balanced in the sense that it has tried to address the concerns of different sections of the society, focusing on Aam Adami.
Sir, the Opposition Parties, have argued that the Budget lacked vision and inclusiveness. Some others said that the Budget does not contain a 'big-ticket' item, and yet others have criticized that the Budget does not contain reforms agenda.