New Delhi, Jul 5: Communist Party of India-Marxist (CPI-M) general secretary Sitaram Yechury on Friday termed the Narendra Modi government's first Budget in second term as 'fraudulent'.
"The Budget is fraudulent. The Finance Minister has used February 2019 interim Budget’s revised estimates as the revised estimates for the whole year 2018-19! Expenditure cuts in the last quarter in the run up to polls are not accounted for! So a rosy picture of the economy is based on jugglery", Mr Yechury tweeted.
The Left party leader also criticised that the Budget, which was presented by Finance Minister Nirmala Sitharaman in the Parliament, has nothing to address the 'massive job crisis that India faces'. "The agrarian distress is also not addressed. No debt-relief and nothing on investment in the sector which is badly required", Yechury added.
Referring to the tax exemptions, the CPI (M) leader said that while corporates enjoy tax reliefs, majority of Indians will be affected by the higher prices for petroleum products. "Pay back time for the corporates. 99.3% of them get hefty tax relief but for the majority of Indians, it will be higher priced petroleum products which will feed inflation all-round", he tweeted.
The CPI(M) also lashed out at Modi government for pushing privatisation in the Budget.
"The push for privatisation intensifies. The intention of the government is very clear.Boon for cronies and loot of the public money", he tweeted. In the Budget, Ms Sitharaman said that the government is setting the disinvestment target of Rs 1,05,000 crore for the financial year 2019-20, a 16 percent increase from last year’s revised collections. (UNI)