After Finance Minister Arun Jaitley presented Union Budget 2018 in the parliament, former Prime Minister Manmohan Singh today said that “the fiscal arithmetic” of the Budget for 2018-’19 could be incorrect. “I don’t think I can blame the Budget for being motivated by scoring points in elections, but fiscal arithmetic is at fault,” he said to The Indian Express. “This Budget is high on projecting a bright picture, but how will that be sustained [by the underlying fiscal arithmetic]?”
Singh’s was one of the many reactions to the Budget Jaitley presented in Parliament on Thursday.
While Rahul Gandhi, Congress President, said even after four years at the Centre, the Bharatiya Janata Party was “still promising farmers a fair price”, yet proclaiming “fancy schemes with no matching budgets” and had still not created jobs for the youth. He ended his tweet saying, “Thankfully, only one more year to go.”
Sitaram Yechury, Secretary-General of the Communist Party of India (Marxist), asserted, “The Modi government’s last full Budget is a textbook exercise in post-truth: Unconnected to ground realities.”
He also scrutinised the judgment to raise the minimum support price of crops by 1.5 times, claiming it was moved aimed at drawing votes in the upcoming elections in eight states.
4 years gone; still promising FARMERS a fair price.
4 years gone; FANCY SCHEMES, with NO matching budgets.
4 years gone; no JOBS for our YOUTH.
Thankfully, only 1 more year to go.#Budget2018— Office of RG (@OfficeOfRG) February 1, 2018
Modi govt’s last full budget is a textbook exercise in post-truth: Unconnected to ground realities. #UnionBudget
— Sitaram Yechury (@SitaramYechury) February 1, 2018
Fraud of MSP only for Kharif i.e. Elections:
Cost of production used by govt does not include costs of family labour & land rent, which is the global norm. We reiterate our demand for bringing a law giving farmers the Right to Sell at MSP.— Sitaram Yechury (@SitaramYechury) February 1, 2018
BJP’s ally, the Telugu Desam Party claims to be disappointed with the Budget. YS Chowdary, the minister of state for science and technology, told the Budget failed to address some concerns such as the funding to build Amravati, the Capital of Andhra Pradesh.
Shiv Sena MP Arvind Sawant said to PTI that this is “a Budget for the elections”. “Hence, the focus has been shifted from industries to farmers, healthcare and education,” he said.
Sawant further said that the government was compelled to take “desperate measures” following the criticism it faced because of the Goods and Services Tax, demonetisation, and the results of the Gujarat elections.
While P Chidambaram, former Finance Minister, said Jaitley had lost in the fiscal consolidation test. “This failure will have serious consequences,” the Congress leader added. He added that the pressure in the farm sector would remain, and called the health care scheme a “big jumla [gimmick]”.
“There is nothing in the Budget to boost private investment,” Chidambaram added. “There is no relief to the average tax payer. Is the finance minister serious?” The former finance minister alleged that government took no measures in the Budget to boost exports, as it had “run out of ideas”.
Both Arvind Kejriwal, Delhi Chief Minister, and his Deputy Manish Sisodia expressed disappointment. “I had expected some financial assistance to important infrastructure projects for the national Capital,” Kejriwal said. “Disappointed that the Centre continues its step-motherly treatment of Delhi.” Sisodia pointed out that the Budget did not include plans to tackle crimes against women in Delhi.
Farm sector stress will continue.Medical health care is a big jumla. Nothing in the budget to boost private https://t.co/vNpIrUWEcX tax relief to the average tax payer. Is the FM serious?- P Chidambaram #UnionBudget2018 pic.twitter.com/mO3ry9LdCe
— ANI (@ANI) February 1, 2018
I had expected some financial assistance to important infrastructure projects for national capital. Am disappointed that Centre continues its step-motherly treatment to Delhi
— Arvind Kejriwal (@ArvindKejriwal) February 1, 2018
I had personally requested a special package for 2000 electric buses for Delhi, which could have played a major role in combating air pollution. Unfortunately, BJP govt does not care for Delhi.
N/4
— Manish Sisodia (@msisodia) February 1, 2018
#BudgetWithNDTV | Political reactions to #Budget2018
Read more here: https://t.co/7U8zXk2f8c pic.twitter.com/6oj0PpFAUP
— NDTV (@ndtv) February 1, 2018
On the “disappointing Budget 2018”, Congress leader Shashi Tharoor asserted that there was “nothing for the aam aadmi, no tax [relief] for the middle class, no incentives to create jobs, no investment stimulus”.
Congress Spokesperson Manish Tewari claimed that with Budget 2018, the government had tried to “pay lip service to farmers and to other marginalised sections of society”, but that it was a “classical case of ‘too less’”.
Randeep S Surjewala, another Congress spokesperson, alleged that the government is making a absurdity of farmers with its so-called initiatives. “UPA agriculture growth: 4.2%, in NDA 1.9%,” he said on Twitter. “Modiji, at this pace, the incomes of farmers will double only by 2052. Why are you playing this cruel joke with farmers?”