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  1. Union Budget 2018 has failed people of India: Former Finance Minister P Chidambaram

Union Budget 2018 has failed people of India: Former Finance Minister P Chidambaram

Former Finance Minister P Chidambaram launched a fierce attack on the central government and finance minister Arun Jaitley, Chidambaram, on Saturday, and said that budget 2018 as a whole has failed the people of India.

By: | New Delhi | Updated: February 10, 2018 6:29 PM
Former Finance Minister P Chidambaram launched a fierce attack on the central government and finance minister Arun Jaitley, Chidambaram, on Saturday, and said that budget 2018 as a whole has failed the people of India. Former Finance Minister P Chidambaram launched a fierce attack on the central government and finance minister Arun Jaitley, Chidambaram, on Saturday, and said that budget 2018 as a whole has failed the people of India. (ANI)

Budget 2018: Former Finance Minister P Chidambaram has been critical of Budget 2018 ever since it was announced on February 1 by FM Arun Jaitley. Launching a fierce attack on the central government and finance minister Arun Jaitley, Chidambaram, on Saturday, said that budget 2018 as a whole has failed the people of India. While speaking at a function titled, “Budget 2018-An Analysis” at Chennai’s Loyola Institute of Business Administration, P Chidambaram made remarks on the recent budget and said, “We need to ask whether this Budget has done anything for any section of the people.” While speaking on Budget 2018, Chidambaram said, “This budget failed the test of fiscal consolidation, promoting welfare, relieving agriculture distress & promoting employment, taken as a whole it has failed people of India.”

Chidambaram referred to the announcements made by FM Jaitley as ‘Jumla’. He mentioned that the Health insurance for all is a ‘Jumla’, and further added, “In 2016-17, the insurance scheme was a quiet burial. Zero rupees is allocated for 2017-18 budget insurance scheme. Current Government can’t raise fund for it.” He went on to say, “The budget 2018-19 has ignored the prescription and course of its own doctor, the patient is itself in terrible state”

Speaking on the economy and employment opportunities, P Chidambaram said, “economy and employment opportunity is inversely proportional in India,” and that “The government couldn’t explain MSP cost +50% on farmers, it’s an election JUMLA.”

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P Chidambaram also said, “The government is not only a reckless borrower but a reckless spender and had misjudged the context and overlooked the people.” The former FM also said that the budget 2018 was focused less on agriculture. He said, “The government is not only a reckless borrower but a reckless spender ‘hallmark of budget’ is courage and rhetoric, focused less on agriculture.”

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P Chidambaram also said, “Inflation is a cruel tax that falls on both the rich and the poor and this year will be a year of lower growth and higher inflation.”

“I had asked in Parliament that suppose petrol and diesel prices go up, crude oil prices go up, what will you do? Will you cut the excise duty and keep the prices at the same level or increase the prices of petrol and diesel? There is no answer so far,” P Chidambaram said.

P Chidambaram also highlighted on the state of farmers and said, “Current government is doing MSP Jumla on farmers.” He also said, “The budget 2018-19 has failed the test on fiscal Consolidation, welfare, agricultural distress and employment.”

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