Bhubaneswar: Congress leader V Chandrashekhar Naidu criticise Union Budget 2020-21; says Agriculture Cess is a direct burden on Petrol and Diesel and will lead to enhanced inflation. The major infrastructure spending and outlays(Roads) has been in Four states like West Bengal , Tamilnadu , Assam and Kerala which are going for election .While our states like Odisha has been left high and dry.
“Weak Revenue Inflows, nothing for middle class. Fiscal Deficit Previous year was 9.5% current projection has breached the gold standard set at 5% and has been projected without supportive data @ 6.8% . The Fiscal Data is unclear if it is with or without the off balance sheet items which is a question mark,”says leader V Chandrashekhar Naidu.
“Unorganised sector which is 50% of manufacturing sector and 80% of the employment provider if data have been accrued correctly , I am sure will give a gloomy picture as is visible on the real ground. Agriculture Cess is a direct burden on Petrol and Diesel and will lead to enhanced inflation which is already very high and inappropriately documented. The major infrastructure spending and outlays(Roads) has been in Four states like West Bengal , Tamilnadu , Assam and Kerala which are going for election .While our states like Odisha has been left high and dry,” says leader V Chandrashekhar Naidu.
“Most of the expenditures are outlays spread over five or six years leading to exaggerated figures and have been staggered while the actual spending could be as low as a mere 15000 crore per annum in Health Sector (The said outlay during Pandemic period could prove to be too little since Public health is an long term investment and not short term as the people health’s are assets of the nation ) . The overall allocation of 35,000 crores for vaccines is welcome but may cover only a very small segment of India’s 1.3 Billion Population. Assuming a mere Rs 1000 per dose could cost the nation a few hundred Billions,” says leader V Chandrashekhar Naidu..
“Agricultural subsidy of India stands at a meagre 11 Billion USD in comparison. While its stands at 185 Billion USD and a small nation like Indonesia has 29 Billion USD. The Projections and outlays for Cotton and Textile is at an extremely un-sustainable level when the real factor of Subsidy doesn’t significantly go up. Increasing the Agro subsidies significantly would have made the difference. here is no Money placed on the hands of poorest of the poor so as to improvise the damaged year due to Covid-19 . The Government has moved on top speed to make it a law to Disinvest every Public Sector in this budget which surely shall destroy seventy years of Public sector enterprise and its glory in employment or innovation or acting as Mother ship of Development,” says leader V Chandrashekhar Naidu.