A late review about the much-discussed budget presented before the parliament by Finance Minister Arun Jaitely days before the commencement of the crucial election in five Indian states, given by the Former Finance Minister of our country, P Chidambaram, in the parliament, has shown no reluctances to call the financial dossier 2017-18 as a ‘demonstrable failure of economic mismanagement’. The unpleasant review regarding the budget was given while he was attending a discussion session in the Rajya Sabha. He alleged that in the name of boosting the economy, the government simply reduced the expenditure allocated to the key sectors like agriculture, defence and social welfare schemes such as MGNREGS and National Education Mission. The former Finance Minister criticised the central government and the Finance Minister for rolling out a budget that lacks vision, goal and plan.
In contrary to the ruling government’s claim that their budget is a pro-poor budget, the former minister observed that the constructors of the new financial dossier had shown no empathy towards the poor in the budget. Chidambaram opined that in order to boost our economy effectively we have to spend more money and cut the indirect taxes existing in our economic system. He further alleged that only a small portion of the society benefitted from the tax benefits allowed by the budget. Highlighting all these statements, he tried to establish, in the law making house, that no major benefits were gifted to the common population of our country through the budget. He did not hesitate to remind the central government that no one could compel people to change their mode of payment as our democratic system restricts any government from doing so. Calling demonetisation an utter failure policy, he said no government could intrude into the citizen’s privacy by insisting them to keep the record of each and every purchase or payment they make.
vignesh
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