To feel the pulse of the nation, imrb researchers spoke to 61 ceos and 1,879 average citizens—businessmen, execs, self-employed professionals and housewives—on what they want from Budget 2001, the key issues they feel India’s economic future hinges on. We also asked them what they think Budget 01 will deliver. The difference between hopes and expectations could be an interesting gauge of India’s perception of the government’s ability and will.
The Outlook-CNBC India Budget partnership will continue through two shows on cnbc, one on Budget eve, February 27, and one on the evening of Budget Day, when we shall try to examine how well Budget 2001 fulfilled India’s expectations. So here’s hoping for the best.
Sometimes, the obvious needs to be drummed home. Ten days before the 2001-02 Union Budget, if you were asked, dear reader, what do you think the people of India want from Yashwant Sinha, you might answer, "Less taxes, cheaper items of daily use, good roads, steady power and water supply... in short, an easier life."
You, however, would only be partly right. As our Outlook-cnbc poll conducted by imrb discovers, Indians want not merely an easier life but a better, fuller life. A more-aware and better-informed citizenry proves that its economic acumen can compete with Sinha’s. Despite the government’s repeated assurances, they don’t think an 8 per cent growth is possible in 2001-02. Therefore, they want the government to spend the most on infrastructure and education, go single-mindedly after privatisation in the budget and tax the rich farmers for a change.
The poll also busts a few favourite myths. The common man/woman in the cities is prepared to pay more for power that does not go on the blink ever so often, roads that don’t develop potholes, or water that plays havoc with the stomach. As for political perception, the citizens display amazing maturity: most believe reforms have benefited only the rich and—here, you might take a deep breath—-Sinha has very little freedom in putting together the budget for the next fiscal.
Well, a finance minister’s gotta do what he’s gotta do—and the Gujarat earthquake which has hit the living more than the dead has already provided the precursor to hard times. But this wide-spectrum survey results do help to clear a lot of the cobwebs that obscure the vision of our politicians, whose ears are far removed from the ground. And if, dear reader, you thought they were in sync with our industry captains and big business, you—and these politicians—are in for another pleasant surprise. Take, for instance, the ceos’ response to globalisation issues—not only do they disagree that there is any unfair pressure from the wto and developed countries but they also strongly believe that the government is completely confused over how to tackle globalisation and is acting in an ad hoc manner!
