Free Press Journal

‘Hopeless’ budget: TMC


New Delhi: Prime Minister Narendra Modi and Finance Minister Arun Jaitley during President's address to the Joint Session of Parliament on the first day of the Budget session in New Delhi on Tuesday. PTI Photo / TV GRAB (PTI2_23_2016_000071B)

New Delhi: Trinamool Congress today dubbed  the General Budget 2016-17 as “hopeless,” saying it does not  offer any solution to the economic problems.

“This budget is not constructive, nor is it creative. It is stereotype and routine. We are left with no option, but to call it a hopeless budget,” TMC, which rules West Bengal, said in a statement here. The party headed by Mamata Banerjee said the budget does not offer any hope for the farmers, downtrodden or even for industry.

“There is no hope for industry, no hope for the farmers, no hope for the poor, no hope for the middle class, no hope even for the Sensex,” TMC said, adding “no major tax reforms to benefit the middle class. Lots of big words. No real big solutions.”

Taking on Finance Minister Arun Jaitley, TMC said “The FM made an attempt to emphasize on social sector schemes. But the reality is different. Almost 40 social sector schemes have been stopped and states have been burdened for funding new schemes.”

While giving an example of the Pradhan Mantri Gram Sevak Yojana, TMC said “Instead of the Centre, which is now funding 100 per cent, it will only fund 60 per cent and the states have to bear 40 per cent. So in West Bengal where Rs 3000 crore was spent, the state would now have to shoulder a burden of Rs 1200 crore. Is this cooperative federalism?”

The TMC was also critical of the FDI policy.

 “We believe in total transparency. Why has the FM not mentioned the details of the changes in the FDI policy in his budget speech? It is shrouded in an annexure and opens up 100 per cent FDI in many sectors. Why can’t the government be transparent?,” it asked.