A Budget to Improve Governance, 10February, 2011(The Hindu Business Line)

A Budget to Improve Governance, 10February, 2011(The Hindu Business Line)Introduction:

The article published in the newspaper “The Hindu Business Line”, 10^th February 2011 majorly highlights the budget which would be quite helpful to improve the overall governance (Goyal, 2011).

The article published in the newspaper, states that every minute change or improvement in the overall monetary system of the economy would have an impact on the levels of output. The budget shall be framed in such a manner that, the supply side of the economy should be taken into consideration with respect to the various expectations from inflation (Arthur & Sheffrin, 2003).As we know that, rise in inflation would act as one of the major issues for the economy therefore; the budget shall be maintained in such a manner which would help in order to attack such issues. The budget should be formulated in such a manner which would help in order to reduce the decrease the inflationary expectations (Goyal, 2011).

The people of the regulatory body state that, inflation refers to a type of an economic event which cannot be controlled & occurs on a very large scale. Therefore, government cannot be blamed for such actions (Arthur & Sheffrin, 2003). The entire Finance department of any given economy would motivate the people involved to practice efficient use of the funding. This would help in order to have a better future in the years to come (Capehart & Richardson, 2008).

1. FOOD INFLATION – REDUCTION:This article majorly focuses upon reducing the food inflation in the Chinese market. Various anti inflation strategies have been adopted in the Chinese market in order to encourage agricultural production. The Chinese economy scraps off tax upon the commodities which are produced & leads to an increase in the levels of inflation (Goyal, 2011). Certain types of blocks such as taxes, octroi, etc should be abolished from the commodities which have been produced with the help of agricultural produce.

Monopoly rights have been conferred upon the traders with the help of strong political networks. The APMC i.e. Agricultural Produce Marketing Committee has been given the right to provide such kind of powers in the hands of the various relevant groups (Ayoola, 2002). The model of the APMC have been formulated as well as implemented in various countries. This model would help in order to allow various groups or parties to enter where in they are restricted to enter (Goyal, 2011).

A consolidated marketing strategies must be formulated which would help the government officials to practice different types of reforms. The entire model which has been designed & formulated by APMC (Goyal, 2011) could be altered with the help of the different marketing strategies. The different forms of marketing would help in order to help the farmers to get the entire amount which has been used in the production of the same (Ayoola, 2002). The high prices of fruits & vegetables do not reach the farmers directly. Therefore, the group of farmers is not motivated to grow more levels of commodities & respond to the increased levels of supply for the same.

1. PROMOTE COMPETITION:In order to promote competition, continuous policies should be designed & formulated which would help in order to shift the entire focus from speculation to reduce the overall rents in the agricultural markets (Goyal, 2011). The dealers in the agricultural market would have an access to the black money; opt for a credit control which could be implemented in a complex economy. The farmers, traders & dealers have access to the information available on the internet & other media sources. Therefore, the farmers could not be misleading regarding the rates or any other information relating to their subject matter (Goyal, 2011).

Agriculture has been reported to be one of the main issues. The budget would help in order to offer as well as motivate the changes. This would help to practice high levels of effectiveness & efficiency in the entire distribution process for the procurement of food, trace the stock available & practice better coordination amongst the people involved in the entire process. In order to take care, the rise in inflation would lead to fair improvements in the overall business structure, implement excise duties, etc (Ayoola, 2002).

1. EXPENDITURE COMPOSITION:

With the help of the economics concept, it could be seen that the entire composition of the expenditure should take into consideration the fiscal policies. This would help to provide the government the ability to spend in the most efficient manner. Consolidate finances should be kept in mind which would help in order to see the available cash in the treasury (Arthur & Sheffrin, 2003). Some of the countries would struggle in order to upgrade or enhance their deficits or reverse the deficits. This would provide a positive figure regarding the economy as well as its strengths, targets which are expected to be fulfilled. High levels of growth in the economy would lead to an increase in the overall strength of the same (Capehart & Richardson, 2008).Major concentration should be done regarding the categorization of the different types of expenditures available in the economy. This would help in order to improve the overall expenditure of the Chinese market (Capehart & Richardson, 2008). The various types of deficits could be improved with the help of the proper allocation of the resources within the economy. The new expenditure would help in order to upgrade the entire capacity of the same; this would help in order to enhance the effectiveness as well as efficiency of the same. Use of MIS i.e. management information system should be used in the economy which would help to perform better accounting practices (Arthur & Sheffrin, 2003).

1. INSTITUTIONAL REFORM:

The government officials most of the time are unable to spend the amount which have been reserved for certain purposes. It has been seen that, various shortfalls were prominent from the certain targets fixed for the different sectors in the economy. High levels of cut have been seen amongst the various sectors which did not meet the overall stipulated targets for the same (Capehart & Richardson, 2008). Proper motivation as well as efficient planning would not take place in the economies. This entire policy would lead to a decrease in the overall funds for meeting the appropriate expenses for various sectors (Arthur & Sheffrin, 2003). The spending should be as per the estimations made. As there is a freeze in the liquidity amongst the Chinese Market, therefore heavy amounts of cash balances should be maintained & appropriately used in the economy. Designs, structures should be formulated in such a manner that, the government officials shall try to engage or distribute the cash or stocks amongst various sectors available (Ayoola & Oboh, 1999).

A minute change in the structure or the reform would lead to an overall change in the entire regime. The change in the entire regime would lead to an increase in the effectiveness of efficiency of the same. The changed system would help in order to perform better in terms of supply as well as demand side. This would help in order to reduce the level of deficit as well as fasten the expectations of the customers (Ayoola & Oboh, 1999).

1. Conclusion

Hence, it could be concluded that budget refers to one of the most crucial aspect in regards to economics. Budget plays one of the most important roles which would help in order to improve the entire governance in the economy.

The people of the regulatory body state that, inflation refers to a type of an economic event which cannot be controlled & occurs on a very large scale. Therefore, government cannot be blamed for such actions (Arthur & Sheffrin, 2003). The entire Finance department of any given economy would motivate the people involved to practice efficient use of the funding. This would help in order to have a better future in the years to come.

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