Finance Minister K.M. Mani has termed the Union Budget as corporate-friendly, pro-rich, anti-farmer, and disappointing for Kerala.
He told reporters here on Saturday that the first full budget of the NDA government had belied the expectations of the people. “It is an average budget with no plus points.”
Mr. Mani said Kerala had been completely neglected in the budget speech by Union Finance Minister Arun Jaitley. “While the Minister announced several projects for other States, Kerala was not even mentioned. The demand for an All India Institute of Medical Sciences (AIIMS) and an IIT, and to slash the import duty on rubber finds no mention. Our hope of getting Sabarimala declared as a national pilgrimage centre has also been dashed,” Mr. Mani said.
The budget had no programme to check inflation or cushion the impact of subsidy reduction on the common man. The proposals to reduce corporate tax and abolish wealth tax showed the pro-rich character of the budget, he said. “The move to levy surcharge of two per cent on the highest bracket of income tax payees will not compensate the revenue loss from abolition of wealth tax since the number of super income tax payees constitutes a miniscule fraction of the population,” he said.
Accusing Mr. Jaitley of neglecting the primary sector, he said the budget had nothing to help farmers except the Rs.20,000-crore allocated for NABARD for agricultural credit. “There is no proposal for value addition or enhancement of productivity. The government has turned a deaf ear to the demand to restore fertilizer subsidy,” he said.
Mr. Mani said the move to reduce direct tax and enhance indirect tax would burden the common man with hidden levies. He, however, welcomed the proposal for universal health insurance and the move to introduce GST from next year.
He said the State Budget would be development-oriented with the thrust on people’s welfare.
Says there are no measures to check inflation
Jaitley accused of neglecting primary sector
