Exercise for budgeting.

Prime Minister Modi has started the official brainstorming exercise for the upcoming Union Budget for a few days now. Under the auspices of NITI Aayog, he has held extensive open-minded discussions with various economists and other experts of the country. Union Commerce Minister Piyush Goyal has an important behind-the-scenes role in this budget. As foreign investors from the country begin to consolidate their portfolios and the market goes through the horrors of a deep recession, many economic interests at home and abroad are eyeing this budget. As this budget is being prepared in a hurry, it has to be seen that it does not become a mere exercise in catering. Although the nature of Mr. Modi's Budget time has been to make the marginal citizen the beneficiary, that characteristic will continue this time as well.

There has been a long round of various presentations from small, micro and medium enterprises to the central government over the last one week. As a result, it remains to be seen whether the government gives a positive response in the budget. Is. Launched in 2015, the Pradhan Mantri Mudra Yojana was and still is primarily for small businesses, but the process is so complicated that the owners become half-crazy when going through the red tape and end up drowning in an ineffective approach. Basically, this was a scheme to get working capital so good that initially there was an air of rescue of small scale industries.

The Department of Micro, Small and Medium Enterprises (MSME) is a department set up by the Central Government only for small businessmen - small manufacturing entrepreneurs. This section was created in AD. It has been running since 2006, but even after a long journey of a decade and a half, its usefulness for small scale industries has been partially proven. Small scale industries provide employment to three to four crore people of the country. The most surprising thing is that 45% of the total exports from the country come from these small and micro industries. In the previous term of NDA, small industries benefited less and suffered more losses. It is Finance Minister Sitharaman's responsibility to compensate the loss in the term that is now ending. A common impression about the NDA government is that it is a government that is friendly to the big businessmen. The big ones have grown bigger under his regime and the smaller ones have become smaller, much to the chagrin of former finance minister Jaitley. However, the cause of hope for the small scale industry sector is Commerce Minister Piyush Goyal. Like Nitin Gadkari, his corporate sense and ability to assimilate the new industrial evolutionism is unique. Like Chidambaram, he has a unique vision in both commerce and economics.

This time, the NDA had the responsibility to face completely new challenges than the last term, but a lot of time has been spent in saving the party. The violent clashes between Iran and the US are set to escalate and have an impact on India's imported petroleum products. Even if the Indian government has arranged for the Indian Navy's amazing security perimeter around all imported oil tankers, the risk remains. The Gulf countries have suffered many hardships and due to this, other countries have also seen the days of falling into the economic pit, the Gulf history is right in front of the Indian government. In such a time, Russia is on India's side, so there is no danger.

This year, India will have to develop the strength to take tough yet clear steps due to America's revealing cynicism towards India. Although India is not directly promoting the new trade axis of India-Russia-China, coincidences are taking the country in that direction. In this axis, Russia is India's old friend and China is Jugju's enemy. China cannot go on without punishing India for its commercial interests. Corona has devastated China. What Morarji Desai earlier and now Narendra Modi did not understand is that Russia-India friendship can be so close that both countries do not need to lean against any third power of the world.

Indira Gandhi understood this. Nature has distributed the natural and material wealth between India and Russia in such a way that both complement each other. Today we are proud of ISRO but at its core lies the unique contribution of decades of Russian technological prowess. However, it remains to be seen how the Modi government will turn its foreign policy now. Now we have come to such a turning point that the budget and the economy can be shaken by the slightest mistake in foreign policy.