Budget 2015 has been unkind to the poor: Chidambaram
Former Union Finance Minister P Chidambaram said the Jaitley's Budget failed to address the concerns of class that doesn't pay Income tax.
Sarva Sikha Abhiyan is cut,farmers get nothing,service tax increase hurts http://t.co/XUX59ac37R will pay less tax.Hw is #Budget2015 BigBang; Ahmed Patel (@ahmedpatel) February 28, 2015
Union Finance Minister Arun Jaitley on Saturday presented the Union Budget 2015 in Parliament. While the ruling BJP called it a "progressive, positive, practical, pragmatic and prudent", the opposition members described it as "hollow and plain".
advertisementFormer Union Finance Minister P Chidambaram said the Jaitley's Budget failed to address the concerns of class that doesn't pay Income tax
Here are the highlights:
The budget leans heavily towards the corporate sector and the class that pays income tax. We have nothing against corporate sector. About 100 crore people do jit fall under corporate sector or pay income tax. This is missing from the budget.
#The budget also makes very tall claims. FM said that he inherited gloom. Then he acknowledged by putting numbers of statistics. CSO had said that growth increased to 6.9 per cent for 13/14 percent.
#Some numbers are quite astonishing. The budget says that they will reserve the target for 3 per cent for another year. This means govt will borrow about Rs 37000 crores. What will this be used for. This additional borrowing is going to non-plan expenditure. This is the first budget in recent memory that plan expenditure has been cut. It feels like the planning commission they may also do away with plan.
#Rs 43000 crore for the allocation of scheduled castes in 13/14.
#In the present is Rs 30000 crore same is for the ST plan?
#In the current year the plan for integrated child plan is Rs 8000 crore previously it was Rs 18000 crore.
#Similarly the budget has been harsh on the above sectors -- be it Minority Affairs to Forest Affairs to PMGSY.
#One thought the govt will give more money to these programs but there has been unjust cuts. Does the govt lean towards the poor? The answer is no.
#The govt says that growth will happen and you will benefit. Till then you fend for yourself. The govt should lean towards the poor which we don't find.
#The non income tax payer gets no benefit but pays more indirect tax.
#The effective corporate is 23 per cent every one percent is Rs 20000 crore. So beginning next year they will give a benefit of Rs 20000 crore a year to corporates. Our Corporate Tax rates are very competitive.
#A large section which deserves govt help and succor are left in the cold.
#This budget is unkind to the poor.
#It is possible that growth will be 7.4 per cent it was 6.9 per cent last year. But it will not cross 8 per cent.
#We were not lacking in will to get the black money back. We had got 67 names, notices were issued. No new name has been obtained. The list with the NDA govt is the list which we got. There is no new list. All agreements were made in our time. I have not come across any new information which they have collected. We reached the agreement with the Swiss authorities and the Income Tax authorities.
#The order for SIT came late and I wrote on the file that the new govt should constitute this. I feel that it is the job of the Finance Minister to oversee agencies. This is the mandate of the govt and not the SIT. Be that as may be but it was the job of the new government.
#We are talking about an overarching vision. It is a matter of govt conviction not courage.
#He has increased the amount of deductions that gives relief. Tax liability will come down for personal income tax.
#This budget failed the people of India on test of equality, fiscal consolidation.
#I am left with the sense that since planning commission does not allocate funds so there has been misallocation.
#There are a number of heads where the allocations have been less like Ministry of Culture, Health and Family Welfare, new and renewable energy and they say they are going to increase solar and wind energy.
#Water and Ganga rejuvenation there allocations are very surprising.
#On MNREGA they are saying that if there are more earnings then we will all categories additional Rs 5000 crores.
#PM statement on MNREGA yesterday was unfortunate. It is a program to alleviate the extreme poor. It is for the poorest of the poor. It is a safety net. Why is this being implemented in Gujarat? The poor will take this as a slight. This is an unkind and unjust remark I hope he reconsiders.#DtC cut is a sad decision.
#The economic survey raised hopes if a victory Hugo moment and the speech dashes those hopes.
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