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Showing posts from March, 2022

Budget 2022-23: Announcements Galore, Vision Sparse

BJP government never seem to get over with the election fever (or fear). In his two hour maiden budget speech, Karnataka CM, Basavaraj Bommai probably made a thousand announcements but fell short of setting a vision and purpose for the state of Karnataka. Businesses and industries who were expecting a roadmap for recovery from the catastrophic pandemic did not find respite.  The lower income and middle class who faced a double edged sword of job loss and price inflation during the pandemic year had to bite a sugar coated bullet of no relief in taxes. The war crisis in Ukraine has already increased the oil prices and it will only further add to price inflation and burden of the common man. No provisions to put money back in the hands of people will cause more distress and not help economic growth. This budget has no vision to create jobs or entrepreneurial environment for small or medium scale setups. MSMEs are the highest job providers and the worst affected lot. While running a bu...