Budget 2013: Oppn give a thumbs down, calls it 'jugglery'

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Budget 2013: Oppn give a thumbs down, calls it 'jugglery'. (Reuters) Budget 2013: Oppn give a thumbs down, calls it 'jugglery'. (Reuters)
SummaryJanata Party president Subramanian Swamy termed the Union Budget as "insipid and counter productive".

come out with any concrete steps to rebound the economy.

"In the entire budget, there is no big picture as to how in the 10th year of the government you are going to help the growth in the key infrastructure sector," Prasad said.

Critical of government's handling of the economy, he said the Finance Minister even failed to come out with measures to revive the manufacturing, agricultural and power sectors.

"All the key sectors are going through a difficult phase. But the response was completely missing. The whole budget does not give encouragement to any of the key sectors," he said.

Criticising the budget, CPI (M) leader Brinda Karat said "this budget is really promoting that particular factor of growth which has marked the UPA regimes, which is the growth determined by the interests of the corporates."

"It is a pro-corporate budget. It is a budget which once again is finding ways to give tax exemptions and also this budget shows manipulation of figures by Chidambaram in his presentation. If you look at the Revised Estimates, you will find there has been a huge cut in the expenditure, compared to what previous budget estimates are," she said.

Janata Party president Subramanian Swamy termed the Union Budget as "insipid and counter productive".

In a statement, Swamy claimed the continued financing of fiscal deficit by market and captive bank loans was "inflationary" and will land the economy in a debt-trap crisis.

"The gross revenue estimate is based on an unrealistic GDP growth rate of 6.7 per cent in constant prices and 13 per cent in current prices. This is widely off the mark and hence the budget deficit will be higher and inflationary," he said.

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