Defence budget increased to Rs 96,000 crore

[Contrarian]

america does not not have poverty and disease and inequalities on that scale...2.5% gdp how much is $20 billion percentage of gdp...and how much percent are they spending on health and education infrastructure..

This budget was essentially a social budget. The finance minister has decided that the corporate growth and increase in FDI will take place without any pro-active steps to be taken by the government. So this was a social budget.

“Our first reaction is that it is a terrific Budget, but only if you look at it from a social sector perspective. The finance minister has increased the spend on education by 32 per cent, on health by 22 per cent, and farm credit has gone up by 28 per cent,” said Ficci President Habil Khorakiwala.

The government has increased taxes, increased alternate taxes, an additional levy of 1% tax which would go towards the education sector which is very welcome.

Assocham President Venugopal N Dhoot would only describe the Budget as “pragmatic” and for the aam admi, adding that the proposals are on expected lines, providing the much-needed boost to agriculture, education and health sectors.

“The finance minister didn’t have anything major for industry. However, the focus on agriculture is a welcome step and this is the first time that about 15-20 minutes (of the finance minister’s speech) were spent on agriculture,” said CII member and Bharti Enterprises Chairman Sunil Bharti Mittal.

Ficci general secretary Amit Mitra said, “On the whole, it is not an anti-growth Budget. The Budget is good for long-term sustainable growth since it aims at promoting inclusive growth.”


Assocham and Ficci had contrasting views on hike of 1 per cent on education cess.

While Ficci is against the move, which it fears, will increase the tax burden, Dhoot said: “One per cent cess levied for secondary education and expansion of R&D incentives to all sectors is a welcome measure. This in turn, will help the human resource of the country, and support weaker sections.”

The CII and Ficci are against the imposition of Minimum Alternative Tax (MAT) on the IT sector. "It is disappointing. The IT sector is still growing and taxing IT companies will affect their growth," said Mitra.

This budget has really upped the ante in all the social services, and thus you see that there was not a very big hike in the defence outlay. I'l say this was a VERY welcome budget. Corporate growth has already taken off, we need to fous on the 'aam admi' now.

The parts i have highlighted as bold, are the passages taken from an article, the rest is just my post.The passages were taken from:http://www.business-standard.com/common/storypage.php?autono=276218&leftnm=1&subLeft=0&chkFlg=

 

[niaz]

Niaz,

I dont know why you have qouted me, But what is happening in New Orleans is appaling, the richest country in the world, the country who's company's who have more money than most country's GDP of the world.

About India being a bully, I agree, When it comes to Pakistan; We would block very screw and nut that can be used in the military for you. Lets not forget we are still hostile countries. Isnt that geopolitics sir.

I have nearly on an yearly average, 1000-1500 people dying in my country cuz of terrorism, It does have hands of Pakistani elements in that, So Pakistan is as much as a bully on India, as India is on them.Thousand Cuts Policy.

I can sit here and say it is all wrong, But you of all people would know World aint fair, Life aint fair.

Quoting you was an error. I just wanted to say my tuppenny's worth. I must have pressed the quote box by mistake.

I have also lived in New York for a couple of years in 70's; last time I spent a month there was in 1993. I dont know about now, I agree with you that there is a lot of poverty in US as well. There are generations of negroes living on welfare checks. BoweryBums were a common sight on the lower East Side. And I have seen many very poor Chicanos ( Mexicans) in San Antonio.

I am against shedding of innocent blood and it pains me as much, whether the victoms of terrorism were innocent Indians ( of any religion) or Pakistanis.

You will however agree that powerful always exploit the weak. This is as true of nations as it is for individuals. I see the exploitation of weak and poor as much in Pakistan as I see in India. However it offends me more when I see the same applied by the nations. For example bombing and killing of tens of Palestinians for each Israeli killed. US attitude towards other nations ( while there was some justification for attack of Taliban Afghanistan; attack on Iraq
was totally based upon false pretexts). I hate to see the same happening to Pakistan at the hands of India. Indian designs however point towards that their final aim is to increase a disparity level with Pakistan to such an extent that would enable India to treat Pakistan with the same disdain as Isreal towards Palestinians.

 

[Adux]

Niaz,

Talking with you is always a pleasure, cuz you makes it easier for me to accept my mistakes. Rather than just beat around the bush defending the indefensible. But I have to point out calling a person a negro or nigger as similar to be called an achoot(untouchable in Hindi) or ****(derogatery name for Asians in the UK). A person of your stature should know better. I would be rather happy if you just call them Black Americans or African Americans, Mexicans or Latino's. The reason we achieved independence was to be equal to the white man, not to attain it, and start discriminating other people.

It pains me when I see someone being Wronged upon, Let me be honest with you; It rather be him killed; than me. I believe that is the whole basis of the Human Psyche; Self Preservation.

Pakistan is not a Palestine, Pakistan has an army and are proffesional and not some stone throwing, suicide bombers etc. As much as I support Palestine's issue, The biggest threat to achieving Palestinian goals are Palestinian themselves. Dear Sir, Isnt it Human nature, An Afghani right about now will be talking about how Pakistani's ruined their country, How after the US leaves, Afghanistan has to listen to Pakistani Dikats. Survival of the Fittest.

And I agree Indian Build up, is more serious that most people over here give credit for, I am not bothered about what fancy weapons our country is buying and I am sure even Pakistan isnt. The Doctrine of Engagement of Indian Armed Forces are changing, They are becoming more offensive and in line with the US. It is not about Second Strike capability, I feel it is First decisive strike capability. Pakistan wont be Palestine nor will India be a Israel, if any Indian think so, it is just a wet dream. But India will move so far ahead Pakistan and will make sure Pakistan is not in an capable position to influence Indian interest, or even support anti-Indian Forces.

What was lacking in the Indian Foreign Policy was something similar to the "The string of Pearls Strategy" I am seeing a difference now, And it is not to led by the political setup, It is being led by Armed Forces by their Doctrinal changes therefore making it neccsary for the Political setup support them. I dont agree with this kind of movement. Politics should dictate Military Manoever, but our babu's havent grown the Brains as yet.

 

[Bull]

Remittance is never considered as FDI in my country or else we'd be reporting almost $10 billion per annum.

Thats my point too...but China counts.

 

[HASEEB66]

The actual quantum of the increase in the defence outlay can be seen in two ways in percentage terms over last year’s allocation. While defence spending would go up to Rs960 billion from the previous year’s budgeted allocation of Rs890 billion, the documents reveal that what was actually spent was just Rs860 billion. Therefore, in real terms, the increase in the current budget is 11.6 per cent or Rs100 billion.

Defence Minister A. K. Antony welcomed Mr Chidambaram’s statement. “With this commitment by the finance minister, we are satisfied,” he told a TV channel.

A sum of Rs410 billion has been allocated for capital expenditure against last year’s budgeted figure of Rs375 billion, indicating that the Ministry of Defence had spent only part of the capital outlay as the revised estimates put spending last year at Rs345 billion.

A survey by the Business Standard business daily showed the services surrendered Rs30 billion. The biggest chunk of surrendered funds was contributed by the Indian Air Force followed by the Army.

Nearly Rs20 billion was returned by the Air Force on account of non-spending on aircraft. The Army returned nearly Rs18 billion, a sum that was required to buy equipment but it could not be spent in time.

This year’s capital outlay for defence has increased because of the aircraft purchase proposals by the Navy and the Air Force.

http://www.dawn.com/2007/03/01/top6.htm

spending another 2.5% of the gdp spending sensibly for the peopel would have made hell of a difference for them

 

[Adux]

spending another 2.5% of the gdp spending sensibly for the peopel would have made hell of a difference for them

How about we sell all our weapons to raise money for the poor and equip our soldiers with slingshots and swords,

2.5% is one of the lowest in the world, it is lesser than the global average of 3%.

You are getting quite irrating. THis is aint some stupid teenager wet dream wanking forum, IF you dont know about things, learn from others and contribute.

 

[Bull]

indias amount will always be atleast 5 times higher as they have a5 times times larger budget but wy don't india spend this amount on the masses it can't match china anyways....:

Trying reading a few things about our budget and see which sector was given emphasis.

what is the percentage of defense spending of india and pakistan not the gdp?

What are you asking?

 

[Bull]

...2.5% gdp how much is $20 billion percentage of gdp.....

What is 2.5%? What do you think is 2.5%?

 

[Janbaz]

Indian defence budget unlikely to satisfy armed forces

NEW DELHI: India’s expected rise in defence spending of around 7-8 percent was unlikely to make a dent in the long shopping list of the world’s fourth largest military, defence officials and analysts said on Tuesday, the eve of the country’s annual general budget.

They pointed out that the urgent need to improve healthcare, education and infrastructure would check the ambitions of one the world’s biggest military spenders, despite talk of an arms race with Pakistan and China.

India raised its defence budget by 7 percent to Indian Rs 890 billion (US $20 billion) for the year ending March 2007, as part of ongoing plans to modernise its 1.3-million strong military.

Speaking to Reuters on condition of anonymity, a top defence official said: “The increase in defence allocation is expected to be around the same levels, seven or eight percent, to keep it at around 2.4 or 2.5 percent of GDP (gross domestic product). Of course, it won’t be enough, but that has been the trend.”

But slow decision-making and a lack of strategic planning means that some of the money may not even be spent, as has been the case in the past.

India has pegged its military spending at around 2.5 percent of GDP - estimated at around $920 billion in January - although both the country’s armed forces and defence experts have for years clamoured for expenditure to be set at 3 percent of GDP.

Defence officials noted that both Pakistan and China spent around 5 percent of their GDP on defence, pointing out that New Delhi had to keep pace despite peace on both frontiers.

They also pointed out that Pakistan had been on its own modernisation spree, particularly of its air force, and continued to eye more American F-16 fighters and Chinese JF-17 Thunders and the J-10 aircraft.

Yet despite booming economic ties between India and China, Beijing remained a worry due to its regular defence spending boosts and muscle flexing in the form of next-generation weapons, such as the anti-satellite missile.

Nevertheless, analysts appeared divided on whether India was demonstrating restraint on the defence expenditure front.

According to Harsh Pant, who teaches defence studies at King’s College, London: “Unless adequate provisions are made for defence, no state will be able to pursue its developmental agenda. This is much more important for a country like India . . . with two of its ‘adversaries’ straddling it on two sides of its borders and problems on all sides of its periphery. Given that, its defence expenditure remains rather modest.”However, the New Delhi-based expert of Jane’s Defence Weekly, Rahul Bedi said that India was engaged in “ad hoc” arming.

“Whatever comes into the market, India wants to buy.” reuters

Daily Times.
http://www.dailytimes.com.pk/default.asp?page=2007\02\28\story_28-2-2007_pg7_10