Budget far from reality and only day dreaming : CM Uddhav Thackeray

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Mumbai, Feb 1, 2020: Criticizing Union Budget presented by Union Finance Minister Nirmala Seetharaman as far from current economic reality of the country, Chief Minister Uddhav Thackeray has said that union budget which has lost a sense of reality and would result in showing just dreams to youth, farmers and common man on the street.

Stating that the decisions like dis-investment from IDBI or LIC and privatization of Railways are nothing but testimony of weakened economy, Thackeray said that it is a matter of great concern that Government bonds are open for sell to foreigners as a part of the provisions in this budget.

Despite the fact that a target of 10 per cent growth rate has been kept, at present growth rate for the current rate is 5 per cent and economic survey of the Union Government has predicted that growth rate for the year 2020-21 would be 6.5 per cent and it is the lowest in last few years. While Prime Minister Narendra Modi has vowed to accomplish the dream of making it a trillion dollar economy the present growth rate does not have the capacity to fulfil this dream. For this, infrastructure sector needs huge investment but in reality this provision is very less.

The GST provided respite to small-medium and minor industries and finance minister claimed that domestic expenses are reduced by 4 per cent which is not reality. Because of GST small, medium and minor industries have been in tremendous trouble and purchasing power of common man has come down due to growing inflation. Due to lack of demand, small industries as well as labour force are facing problems. The Union Budget should have given encouragement to employment friendly industries which is not reflected in this budget.

No concrete steps for employment generation

Union Government started schemes like start up, stand up and Make in India in last few years and claimed that red tapism is no more prevalent but Union Government has yet again vowed to do the same again in this budget but provision for the same has been reduced. The allocation for the Skill India is also inadequate. Despite the fact that India would be the youngest country in 2030, there is no concrete step for providing employment to youth in this budget and even though there are enormous opportunities in tourism sector for employment generation there is very less allocation.

Breadwinners just receive dreams

The determination of doubling income of farmers has been yet again expressed in this budget too. The farmers who are breadwinners for the country has been shown the dream of making them energy winners and determination of bringing agriculture pumps of 1.5 million farmers on solar and reducing carbon emission by closing down Thermal power has been assured. But there is no explanation as to how the power deficit would be matched which would be created after closing down Thermal power stations.

The agriculture sector is in deep trouble for last many years and this budget has provided Rs. 2.83 lakh crore to this sector by announcing 16 point program but this provision is very small rise compared to last year allocation. It clearly shows that there is contradiction in determination and allocation for the same.

Inadequate provision for social sector

Social sector provisions and allocations are inadequate with no concrete allocation for women and child development sectors which is fifty per cent of the population. Nor the budget has anything big for senior citizens or the differently abled. Only silver lining is that finance minister has provided insurance cover for deposits upto Rs. 5 lakhs in banks which is respite for common man.

Maharashtra gets despair from budget

The budget has meted Maharashtra and Mumbai which is growth engine of the country with injusticw. The budget does not provide enough for infrastructure including Metro work in Mumbai . The sub-urban local service is lifeline of Mumbai and there is no mention of any development proposal for the same in this budget. The budget has not provided any fillip to Railway sector especially in Maharashtra and Mumbai with only exception of mention of Delhi-Mumbai express way and Mumbai-Ahmedabad Bullet train.

Mumbai completely ignored

The finance minister has announced re-developing five historical sites in the country as iconic sites and there is not a single site from Maharashtra in this list. Chief Minister Thackeray has said that this stark step-motherly treatment to Maharashtra is evident in this budget and while strengthening the International financial center in Gujarath, Mumbai which contributes maximum for country’s development has been ignored in this budget. This neglect of Mumbai and Maharashtra would be a matter of agony for Mumbaikars and the state for ever.