Budget 2024-25: Anti-Federal, Anti-Poor, & Unemployment Concerns

New Delhi, Jul 24 (PTI) Opposition members on Wednesday slammed the Budget for 2024-25, terming it as "anti-federal" and "anti-poor", while demanding a white paper on the PLI scheme.

Participating in the discussion on the budget in the Rajya Sabha, Trinamool Congress member Jawhar Sircar expressed his "deep sorrow" and said it was a wasted opportunity of a Finance Minister who has been there for seven years.

"I have not seen such a lacklustre budget, such an atrocious budget. This is a budget which is a figleaf for plutocracy, for a rule by the rich."

Citing anecdotes purportedly from the Finance Minister's speech, Sircar said, "She (FM) starts by saying I let off gold, silver, platinum ... are her priorities. When I talk of silver the first thing that comes to mind is a scandal in GIFT City in a particularly favoured state. There is huge scandal about import of silver".

Referring to abolishment of Angel Tax, Sircar claimed it is meant for high investment by high investors and has nothing to do with the common man.

"A tragedy of a Finance Minister who does not understand the subject and reigns from a high horse," Sircar said in an apparent reference to Sitharaman, adding that she has deliberately avoided the names of all important states that voted against her.

"The present Finance minister and Prime minister have let off (Rs) eight lakh crore .. it is a budget of five states put together. They have let off lakh crore of corporate tax along with a write off of Rs 16 lakh crore of big banks' bad debts...," Sircar said.

He further claimed that capital formation has declined steadily during the NDA regime. He alleged that this budget was the "most anti-federal" we have seen in the last 20 years.

"This budget is the most anti-federal budget.. they have declared an economic war on Bengal because Bengal refuses to subscribe to their avowed principle of hatred. We do not believe in the hatred of minorities. We do not believe in casteism," Sircar said.

He claimed that the Centre has stopped funding NREGA, Gram Sadak Yojana and PM Awas Yojana. "Our dues are Rs 1.72 lakh crore. We are doing Awas Yojana, NREGA on our own," Sircar said, terming the budget “anti-poor”.

He said the government was in "complete denial mode" on the issue of unemployment. "Don't fool yourself.. unemployment will blow up on your face," Sircar said.

He demanded that the government bring a white paper on the Production Linked Incentive scheme.

"We demand a white paper on PLI. PLI I feel we all need to look at because almost all the PLI is going to one state...," Sircar said, claiming that it is a racket.

AITC member Sagarika Ghosh demanded a transparent time-bound audit of all central schemes across states.

Ghosh said the country is facing inequality today and this crisis has not been addressed in this budget.

Citing a report from World Inequality Lab, she said it mentions that India's 'billionaire raj' has replaced the 'British raj' and India is more unequal now than 1920s, during the colonial period.

"That is the catastrophe of inequality facing us. That's why the budget needs to be for real people, real India, real issues and not about fantasy land and Disney land," she said.

The top 1 per cent of the country controls 40 per cent of the country's wealth and the real income of people has declined. 67 per cent of the GST is paid by the poorest of India.

"India is a country where 800 million people are still dependent on free food. The budget needed to address this inequality trap," said Ghosh.

A specific focus of the budget on Andhra Pradesh and Bihar shows it is looking to appease newfound allies, she said.

"Now for political convenience, the government is bestowing largeness on these states. This unequal allotment is against constitutional democracy and immoral," she said adding "this is not cooperative federalism but this is discriminatory federalism."

The Finance Minister talked about Poorvodaya, which is looking East but has ignored the largest state West Bengal, which is facing economic blockade and seige as it has not received NAREGA funds since December 2021.

B Murli Deora of Shiv Sena said expenditure and subsidy of the government should be directed towards achieving three objectives - create employment, rework supply chain reducing dependecy on China and greening our economy.

Birendra Prasad Baishya of AGP said the success of an economic policy of a nation depends on three sectors - agriculture, service industry and manufacturing - and this budget has equally given importance to it. This is for the welfare of farmers and has allocated Rs 1.27 lakh crore for them and also proposed to invest Rs 2.78 lakh crore on infra development.

Deepakh Prakash of BJP said the budget is a road map for developed India. During special mentions, former prime minister HD Deve Gowda raised the issue of the landslide in Shirur village in Uttara Kannada district of Karnataka, which attracted protests from Congress and other opposition parties.

Gowda charged that no Karnataka minister visited the accident site and it was the Union government which offered assistance to the affected people. Terming the speech as political, Congress members asked the Chairman to expunge it.

After the protest from members of Congress, TMC and DMK, Dhankhar said he would rule on the matter the day after.