New Delhi, Jan 31 (IANS) However much the BJP may want to be seen as a ''right of centre'' political outfit, its economic vision has remained ''left of centre'' in the last five Budgets. If Friday''s economic survey is anything to go by, Saturday''s budget will see a strong rural push and a social sector thrust.
Pradhan Mantri Awaas Yojana-Gramin (PMAY-G) and Pradhan Mantri Awas Yojana-Urban (PMAY-U) are two housing schemes that are likely to see significant allocations, given its political benefit. But the current fiscal deficit has made the job much more difficult for the Modi government.
According to an NSO survey of 2018, about 76.7 per cent of rural households and about 96.0 per cent in the urban areas had ''pucca'' structures. Using these two schemes, the government hopes to get housing for all, by 2022.1
But there''s a glitch. The government has limited resources to spare and varied groups to take care of. With the current GDP projections below 5 per cent and the fiscal deficit that was targeted to keep within 3.3 per cent likely to spill over to 3.5 per cent, the government''s hands are tied.
- 1. The tone of the tenth chapter which is focussed on social infrastructure is set when the survey read, "Investment in social infrastructure is a prerequisite for inclusive growth and employment. In the interim Budget of 2019-20, the government had laid down the vision for the decade which among other things emphasized upon building of social infrastructure."