NEW DELHI: Describing the Union budget as tasteless and one that is all talk and nothing concrete, opposition parties said Saturday that it does not address the key issue of unemployment or suggest ways to boost investment to stimulate economic growth.
While Congress argued that the reduction in tax rates did not help the salaried class that has to pay more under the new slabs, the left parties said it is a privatization budget and accused the government of abdicating their responsibilities.
Former Prime Minister Manmohan Singh said the speech on the budget was too long and the Trinamool Congress claimed that the government was lying about tax cuts and one should read the fine print of the so-called IT cuts, since the government He has eliminated the incentives.
Congress Leader Rahul Gandhi He said the budget did not offer any strategic idea or anything concrete and left the issue of unemployment untouched, while former finance minister P gave a score of zero to one in 10 and said the Modi government has given up revive the economy, accelerating growth or creating jobs.
Live plus The main problems facing this country today are unemployment and the situation with regard to the economy. I didn't see any concrete idea, any strategic idea that would help our young people to get a job. I saw many tactical things, redundant things, I didn't see any central ideas, Gandhi told reporters.
I didn't find anything strategic in him. The main problem is employment and the economy. There is redundancy and the income tax has been complicated instead.
The government's approach is visible in this budget. I had nothing in it. It was hollow, he said.
Gandhi said the budget describes the government quite well, that it is about talking about everything and nothing concrete. Many repetitions, many ramblings, nothing concrete. So it is the government mentality: everything speaks, everything speaks, everything speaks, nothing happens. But, of course, the country is suffering, he said. .
Congress Leader and senior spokesperson Anand Sharma said the "budget is insipid, lacking in stimulus for growth" and has no clear roadmap for job creation.
The party's chief spokesperson said the new tax slab for salaried people is "simply 'labyrinth' to mislead people". "Actually, under the new tax slab, people will have to pay plus tax than in the old tax slab," he claimed.
At the press conference of the opposition party, Chidambaram said the government’s claim of growth from 6 to 6.5 percent next year is surprising and even irresponsible.
When asked what grade he would give the budget on a scale of 1 to 10, he made an excavation and said: 10 has a 1 and 0, you can choose any of the numbers. I agree with that.
He accused the government of being in complete denial of the economy facing a serious macroeconomic challenge and there is nothing in the Budget that makes him believe that growth will revive in 2020-21.
It was a long list of old programs (which are current), he said.
If the ongoing programmes have failed the people, how can throwing plus money into the ongoing programmes change anything, he asked.
The government has given up reviving the economy or accelerating the growth rate or promoting private investment or increasing efficiency or creating jobs or earning a greater share of world trade, he said.
The Indian economy is limited by demand and hungry for investment, and the finance minister has not recognized these two challenges, and that is a shame, he said.
He asked how one could call it a budget about caring the society when food and fertilizers subsidies have been reduced. "I think this talk about caring society is plus words than deeds. Once we drill into the numbers, we will know how caring they are or how uncaring they are."
Close the budget proposal to sell a portion of the government's participation in LIC, the Chief Minister of West Bengal and the president of TMC Mamata Banerjee on Saturday he described it as a plan to ambush the legacy of public institutions.
I am surprised and horrified to see how the central government plans to ambush the heritage and legacy of public institutions. It is the end of the feeling of security. Is it also the end of an era? the CM tweeted.
Sitaram Yechury of CPM criticized the budget, saying he did nothing to alleviate people's misery.
Cuanto menos tenga que decir, plus será el discurso. El presupuesto no ha logrado abordar por completo la desaceleración económica actual. No tiene una hoja de ruta sobre cómo se puede cambiar la economía, dijo.
Only topics and slogans. Nothing substantial to alleviate people's misery, rising unemployment, rural wage drop, suicides of farmers' distress and galloping prices, he said.
The secretary general of the IPC, D Raja, said that the Union Budget was an exposed budget on how the government abdicates all its responsibilities by privatizing public assets.
This budget is a budget for privatization and everything must be done using the PPP route, including railways, health and infrastructure, he said.
The millions of unemployed youth in the country are not expected to be seen in the budget, he said.
All India Forward Bloc said the budget was an offer to sell India and said it includes large-scale privatization and divestment of national assets.
The opposition leader, Sharad Yadav, said that economic growth is at a low level of 4.5 percent and that the unemployment problem has become serious, but the budget offers nothing to address these problems.
He does not touch on issues such as farmer suicides, poverty, rising inflation, cases of bank fraud, he said, demanding that Sitharaman apologize for ruining the economy.