Yechury: Budget full of hollow promises, lacks vision

Monday, Feb 29, 2016,16:53 IST By Metrovaartha A A A

New Delhi | Picking flaws in the Union Budget 2016-17, CPI(M) general secretary Sitaram Yechury today said it lacked vision and was full of hollow promises. It also burdened commoners by way of inflationary indirect taxation, he said.

As with the previous two budgets, this budget of the Modi govt is again full of hollow promises and slogans. The numbers just don’t add up. FM says Budget is about fulfilling ‘desires & dreams’ but it has no vision. The dead certainty from it is of a shrinking economy, Yechury said in a series of tweets.

The Rajya Sabha member observed that the schemes announced/supported by Union Finance Minister Arun Jaitley in the budget were the ones opposed by Prime Minister Narendra Modi before elections, adding increasing cess will hurt common man.

Increasing cess hurts the common man, with indirect tax collections proposed to be up by Rs 20,600 cr. Direct tax proposals are down by Rs 1,060 cr. This means more burden on common people as indirect taxes are inflationary. So there will be no expansion in domestic demand, he stated.