No New Ideas in the budget: Congress

chidambaram-66In a direct attack on Arun Jaitley’s budget, former Finance Minister P Chidambaram said –“ One big takeaway from the Union Budget is that there is no new idea”. He lambasted it saying- There is no major initiative to increasing productivity of crucial crops .I am happy that UPA’s schemes are being continued”

He has further said that “ in the last 2 years the govt had turned its back on the the rural, social programmes. Three areas crying for attention are rural economy, private investments and exports.. There is no mention of exports. I think after 14 consecutive months of negative growth, the government seems to have given up on the exports front”

Chidambaram chose government’s constant delay over GST and said- “There is lukewarm reference GST. No promise to accommodate legitimate criticism of Opposition. Government continues to be stubborn”

He went to say that “the government is unaware of problems of the core sectors- power, steel mining, cement, oil and gas. Many projects are stranded and there is little new investment..In many cases there was very poor increase in Minimum Support Price (MSP); in some cases there was zero increase in MSP.. The third budget of a government which presented two forgettable budgets is expected to be political.. Government has wisely refrained from projecting the growth rate for 2016-17

Medaram Jathara

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