The CPI(M), CPI and the BMS were unanimous in criticising the Narendra Modi’s first budget on its proposals for increasing foreign direct investment from 26 per cent to 49 per cent in the insurance and Defence sectors, allowing disinvestment in public sector banks and PPP in transport sector.
“There is nothing new in this budget. It would increase the burden on the lives of the poor and middle class sections and benefit the corporate agencies,” CPI State secretary K. Ramakrishna said at a press conference here on Thursday. FDI would harm the nation’s security and Prime Minister was keen on privatising every sector through PPP mode, he said.
This was a totally anti-people budget which would allow foreign investors and the rich to loot the country, said CPI(M) city secretary B. Ganga Rao. The party held a protest rally in the city and burnt an effigy of the Central Government at the Maddilapalem junction.
Both left parties criticised the BJP-led Government for not initiating any steps to control spiralling prices of commodities or to help the farmers. No steps were taken to remove unemployment and poverty, Dr. Ganga Rao said.
Mr. Ramakrishna pointed out that there was no mention of or support to AP Chief Minister N. Chandrababu Naidu’s promise on loan waiver. He wanted the new universities established in the backward areas of the bifurcated State.
Legal cell incharge of BMS, AP K. Bhavani Shankarudu said enhancement of IT exemption limit, tax rebate under 80 C, minimum pension under PF, linking MNREGA with agriculture work, etc. were welcome.
