Successive governments declined additional allocation to education and healthcare, laments Economics professor

Experts discuss the impact of government budget allocations on education, healthcare, infrastructure, and job creation in India.

Successive governments have consistently declined to allocate additional resources to education and healthcare sectors in their Budgets, regretted Rasananda Panda, professor in Economics with Mudra Institute of Communication, Ahmedabad.

He was speaking at a panel discussion on “Decade of Union Budgets: Analysis and Assessment” organised by Alva’s MBA Department, in association with Confederation of Indian Industry, Young Indians Mangalore Chapter, Kanara Chamber of Commerce and Industry and TiE Mangalore Chapter at Moodbidri on Saturday, February 17.

Mr. Panda, speaking about the education sector, said education and healthcare were vital indicators of a country’s economic growth. Despite decades of warnings from experts about the need for increased funding in these sectors, governments have failed to allocate additional resources, he regretted.

Chairman of Empowered Body on Doubling Farmers’ Income Ashok Dalwai said the management of a decade of India’s Budget was overseen by two Finance Ministers, which serves as a testament to stability and continuity. A nation’s or State’s Budget holds significant importance as it represents a crucial policy statement of the government. Essentially, it outlines the incoming revenues and outgoing expenditures, highlighting the government’s responsibility to effectively manage both aspects. He emphasised the importance of considering both the Budget and allocation outside of it.

Programme moderator G.V. Joshi, Economist and former member of the State Planning Board, said the government must prioritise job creation and address concerns regarding the fiscal deficit. It is crucial to address challenges faced by small and marginal farmers forming 90% of the farming population. Tackling climate change should be a priority.

Retired IRS officer Dharmendra B. Mehtha speaking on Infrastructure said India’s population growth and economic advancement necessitate strong infrastructure, roads, Railways, aviation, ports, and more. The government’s increasing emphasis on infrastructure was notable in recent times.

ICAI Central Council Member Cotha Srinivas, former ICAI Udupi Chapter Chairman Narasimha Nayak, and financial consultant Nobert M Shenoy were the other panellists.