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 A
Reasonable Budget
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TAnnual Budgets always arouse expectations, the Budget
being presented before the National Assembly after four
years (and that also with the confrontation over LFO
as a backdrop) added to the anticipation. The good thing
about the Budget is that no new taxes have been levied,
either in the form of direct taxes or change in administrative/utility
prices. This goes towards the business community’s
demand of a consistency in government policies. For
the first time the government has more or less achieved
the target of the tax revenues i.e. Rs.459 billion against
the revised Rs.460 billion figure. An important achievement
has been that the number of income tax-payers have been
rising, now close to 2 million (at one time few years
ago it was only 1.1 million). There is some improvement
in bringing down the size of fiscal deficit as a percentage
of GDP ...more
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Contradiction
and Confrontation |
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When the Muttahida Majlis-i-Amal (MMA)
came together as an electoral entity, the ideological
differences separating the six parties forming the alliance
made it a practical incongruity. Skeptical as one was
at seeing Islam’s warring sects rent apart by
years of mistrust uniting under one banner, this could
only be possible because of genuine compromise. That
fact alone was enough to lull us into believing that
MMA’s conduct, whether in governance or in parliamentary
opposition, would mean consensus and tolerance would
be prime motivating factors in keeping them in line
with democratic norms. From time to time MMA did show
some signs of intractability, but for most of the six
months or so theirs was stable governance. The Mullahs
have now discarded their cloak of tolerance, dashing
any hopes that they would remain democratic and liberal
in the tried and true spirit of Islam at its birth,
and not act arbitrarily and convoluted according to
their own narrow interpretation of religion. Having
seen the Taliban regime across the border come to grief
because of their excesses in enforcing their brand of
Islam in Afghanistan, one had hoped ...more
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Geo-Political
Fail-Safe |
With
the US demanding after 9/11 that its friends stand up
and be counted, Pervez Musharraf came through at risk
of personal life and limb, not to speak of the credibility
of Pakistan as an independent sovereign entity. The
weekend at Camp David recognises the Pakistani President’s
pre-eminent role (and performance) as a US ally at a
very troubled time, it is also a brilliant US diplomatic
sleight of hand meant to keep everyone happy. While
bestowing a rare privilege meant for the most trusted
of US friends, it avoids receiving a Head of State still
in uniform with all the pomp and show associated with
the White House. This mechanism assuages domestic US
sensibilities about democratic mores, externally it
salves India’s feelings in the light of the developing
US-India relationship...more
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Midsummer
Realities |
From
June 21 to 23 the World Economic Forum (WEF) which traditionally
holds its Annual Meeting at DAVOS in the winter (except
for the 9/11 Special held in 2002 in New York) organized
an EXTRAORDINARY Annual Meeting at the Dead Sea Resort
(400 meters i.e. 1300 ft below sea level) near Amman
in Jordan in the middle of summer. His Highness King
Abdullah 2 of Jordan graciously put the full resources
of the State to making the Summit a success, the location
was an inspired choice, all the major religions of the
world commenced in this region. Close to the crucible
of civilization a sense of history permeates through
the senses. One would expect insecurity because of the
proximity of the West Bank and suicide bombings, the
audacity to hold the event in such circumstances not
only underscored the confidence and courage of the young
King but the attendance bestowed a positive vote of
confidence by the world’s elite. Even though the
normal complement of Heads of State and Government were
missing, second string leaders from the region were
in attendance...more
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