The man who is going to present the Union
Budget 2010-11 in Parliament on Friday is often described as the
troubleshooter of the United Progressive Alliance (UPA) Government.
He
had laughed away suggestions of becoming the prime minister before the
Lok Sabha Elections in 2009, but now as Finance Minister Pranab Mukherjee has the chance of creating his own legacy that could even reaffirm that he's here to stay as the second in command in the UPA.
""I am talking of the younger generation. Please, I am talking of the young in age. I have crossed 73," Mukherjee had said.
But
he is the UPA's man for all seasons and reasons - managing political
crises, allies, defending the Government in Parliament, etc.
As he gets set to present his fifth Budget, the challenges for him have become steeper.
With industry looking at Government support continuing, the global slowdown still to go away and rising prices worrying the aam aadmi government, Mukherjee is faced with a classic Catch-22 situation - will Budget 2010 see the famous balancing act?
"Long
term, even medium term, solution lies particularly to ensure our food
security that we must have massive investment in agriculture. There is
no denying to this fact and I am not passing on the buck to anybody. I
will share the buck on myself because for a major part I was in the
Government, we were in the Government. But you (Opposition parties)
shall also have to take a small share. You cannot just raise the
accusing finger," he said on Thursday while replying to the price rise
debate in the Lok Sabha.
But
the crucial questions is with deficit growing, will Mukherjee show the
political will to take tough measures? Will the stimulus to industry be
phased out? Will there be a cut in subsidy with the fertiliser price
decontrol an indication.
Will
he be able to generate money with big ticket disinvestment? Will he
take advantage of the Congress' numbers in Parliament and with no big
election coming soon, will he bite the reform bullet? Or will he give
in to populism?
He's
recently said that his could be his last stint in active politics. For
a man who started off as a professor of history and political science
this could be his chance to creating an abiding legacy.
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