A sigh of relief for finance ministry as the phosphoric acid suppliers cartel broke off today in the international market. Keeping the prevailing market prices of Phosphoric acid & Ammonium sulphate, Govt Of India is planning to control the fertiliser subsidy bill within Rs.50,000 crores for the financial year 2009-2010.
We all should thank god, somehow prices of fertiliser raw material crashed to lowest level since July’08. Otherwise our beloved Finance Minister would have spent additional 150% other than the planned expenses for the fertiliser subsidy bill.
Oops! Now he is not a FM, he is a Home Minister. Don’t Know who will be responsible for the mess created by him in the finance ministry;
* Planned expenses for the fertiliser subsidy bill stands at Rs.45,000 crores for FY 08-09.
* Unplanned expenses for the subsidy bill Rs.87,000 crores(This represent extra what we spent on fertiliser subsidy).
This is just one example of mismanagement of taxpayer’s money. We will see such many more examples, when finance ministry announces Union Budget Implementation Report in the last week of February’09.
We should not come to a conclusion of deciding a good finance minister, by just looking at the strategies on paper. One should understand implementation abilities of Finanance Minister. I am waiting for the day when we can have a productive discussion on the performance of finance minister as an individual.
2 comments:
Good one! Looking out for more such loops holes!
oppositon completely failed to point out many mess current govt created railway false profit bein just another!
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