Arun Jaitley’s Budget fails the test of tackling rising inequality, says P Chidambaram
New Delhi: Former finance minister P Chidambaram tore into the BJP-led NDA government’s first full-year Union Budget presented on Saturday. Targeting Finance Minister Arun Jaitley, Chidambaram said the Budget failed the test of tackling rising inequality, cruelly neglected the already poor and gave too much to the rich. “This Budget will go down as one which accentuates inequality,” he said.
The Budget according to him also failed the test of fiscal consolidation and the test of equity. Moreover, Chidambaram claimed large sections of people have been ignored and cruel cuts made in spending areas.
In an exclusive interview to Network18, Chidambaram claimed all good points in the Budget were UPA ideas. “Budget is good becuase it introduces GST and merging of FMGS and SEBI,” he said.
The Budget according to him also failed the test of fiscal consolidation and the test of equity.
He said the Budget was in favour of corporate sector and was unfair to the poor and would fail to achieve the targeted 8 per cent growth in 2016. “Government is repaying corporate sector,” he said.
Chidambaram also questioned NDA government’s claim that it has stretched the fiscal deficit from 3.6 per cent to 3.9 per cent in order to fund growth.
Rating Jaitley’s observations on blackmoney, he said, “Government is focused on assets abroad.
via NorthEast Calling http://ift.tt/1G6IW1P
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