Budget is disappointing as lacks it roadmap to accelerate growth, says Anand Sharma
Feb 01, 2021
New Delhi [India], February 1 : Criticizing the Union Budget 2021-22, Senior Congress leader Anand Sharma said that the budget is disappointing as it lacks a roadmap for accelerating growth and revival of consumer demand.
He further stated that the Finance Minister could have been brave to help the poor but she chose to be timid and continued with the government's rhetoric.
"Extraordinary crisis called for a courageous response for the revival of demand and job creation," he said.
Explaining how the Union Budget for this financial year lacks a roadmap to revive the economy, he said, "Transfer of money to economically weaker sections and poor was a must. Finance Minister should have opted for part monetisation and part borrowing to fund deficit".
He also alleged that the sale of profit-making Public Sector Units (PSUs) like Life Insurance Corporation of India (LIC) and General Insurance Corporation of India (GIC) is against the broader national interests.
"The economy is not in a V-shaped but a K-shaped recovery because many sectors continue to be under severe stress," Anand Sharma tweeted.
He appreciated the 'One Nation, One Ration Card' scheme and the increased spending on public health and said that they were two 'bright spots' in an otherwise directionless budget which will be forgotten in a few weeks.
Presenting the Union Budget for 2021-22, Finance Minister Nirmala Sitharaman said that the Budget proposals for this financial year rest on six pillars: Health and well-being, physical and financial capital and infrastructure, inclusive development for inspirational India reinvigorating human capital, innovation and R&D, minimum government and maximum governance.
While presenting the Budget, Sitharaman said, only three times in the past has the Budget followed a contraction in the economy this time. Unlike before, the situation is due to a global COVID-19 pandemic. Budget-2021 provides every opportunity for the economy to capture the pace and grow sustainably.
