Did Mumbai get a raw deal in the budget 2010-11? The country’s financial capital, many in the state’s power circles feel, did not get the attention it deserves in Union finance minister Pranab Mukherjee’s budget.
While chief minister Ashok Chavan has lauded the budget for its emphasis on social and agriculture sectors, several elected members in the ruling Congress-NCP combine are at loss to figure out why Mumbai fell off the finance minister’s radar this time.
Former finance minister P Chidambaram dreamt of transforming Mumbai into a international financial centre and always gave special treatment to the city, said an NCP cabinet minister.
“Pranabda seems to have overlooked the complex problems which make Mumbai a candidate for separate treatment,”
he added.
In general, the budget evoked mixed reactions in the city. Administers and policy makers were, however, unanimous that the budget reflected the current political health of the Centre.
According to the former chairman of the state planning commission Ratnakar Mahajan, “In the backdrop of global recession, the budget will augment the process of inclusive development with stress on agriculture, the rural sector, infrastructure and education.”
Devendra Fadnavis, BJP legislator and an economic expert, said, “The budget lacks vision. Concrete decisions in irrigation and power sector are lacking.”
The policy makers in the state said the finance minister’s support to the special economic zones was significant as the state needs to overcome hurdles to get the 133 SEZ projects it has bagged from the centre going.
The clear policy decision related to foreign direct investment has also cheered the state leadership. Chavan said, “The state is the most favoured destination for foreign direct investment.”
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