Asking the NDA Government not to mark Lakshman Rekha between corporate affairs and Finance Ministry, Bharatiya Mazdoor Sangh on Monday said now time had come to adopt a people-friendly budget.
In a statement, BMS leader and Bharatiya Port & Dock Mazdoor Sangh president K. Bhavani Shankarudu complimented the government for achieving 7.5 per cent growth rate and said all policies should be adopted to benefit the people particularly those belonging to the below poverty line and the middle class.
He said the tax structure needs total overhaul as only 16.6 per cent of the GDP revenue came from tax. Disinvestment of public sector units also came under severe criticism by Mr. Shankarudu.
Stating that secrecy attached to budget was a colonial relic, he said it should be prepared in a transparent and open manner by consulting all sections particularly trade unions.
He regretted in the last budget social sector allocation was reduced from 1.92 per cent to 1.68 per cent by cutting allocation by Rs.4.40 lakh crore.
