Mantra of inclusive development
On June 11, the current government announced its fourth budget with a total outlay of Rs8.487 trillion and gross revenue receipts (tax and non-tax) of Rs7.909 trillion. The budget is presumed to be growth-oriented, with additional claims of ‘bottom-up’ approaches to poverty reduction and more inclusivity in the development process. Accordingly, a set of measures, including incentives to businesses, increase in the PSDP, social protection to marginalized groups, loan facilities to low-income households, support to SMEs etc is proposed in the budget. Despite these measures, success in terms of inclusive growth or development highly depends on how these plans are executed or how these incentives are reached to the downtrodden segment of society.