Big Projects V/s Development

Is it time for India to undertake big projects like the Statue of Unity, Bullet Train which cost thousands of crore to the Indian exchequer? The currently sanctioned statue of Lord Ram in Uttar Pradesh will bereave the newly built predecessor to the status of the world's tallest. This is also a bent in the country's secularity status. Majority of the indirect and directs taxpayers belong to the lower economic section of the society. The bullet train project linking Mumbai-Ahmedabad which currently flagged off has environmental impacts and clearance is already given for land acquisition in sensitive ecologically important areas. It also has an economic impact. The project is sanctioned by Japan although at a meager interest rate but the burden will definitely fall at India. It is comprehensive that the project will bring new job opportunities, quality technology and boost the economic activity in the two states in long run. It is envisaged as one of the ambitious projects of the government. It will reduce the transit time between the two cities which in turn will help the corporates, business class and probably the upper-class section of the society. The bigger question lies at its timing. We can say that the fund for the same could have been better utilized in improving the existing facilities of Railways. There are bigger prospects from the education, Research and health side which are historically ignored and kept at bay in budget allocation. Such projects should be proliferated when there is a dire need of it or when they sit at the top of the priority list. It is important that important surveys are done and its impact assessment report be made public. This will at least save the public discontent or as in the extreme case we say, the wrath of the masses!

In the current budget, we have to sacrifice the projected target of 3.1% of the fiscal deficit for FY20 because of the shortage of funds.