Updated: February 2, 2017 5:55:41 pm
Former Union Finance Minister and Congress leader P Chidambaram slammed the Union Budget 2017 on Thursday saying the farming community has been cheated. He also said the budget has absolutely nothing on changing strategy for creation of jobs. Speaking to the media, the Congress leader criticised the government’s demonetisation move, terming its ‘reckless’.”Now I don’t know what more disruptive and reckless measures are there in the armoury. Wish government meets our growth rates of 8.5 per cent in UPA-1 and 7.5 per cent overall. All the best to them, but they aren’t in position to do so,” he said.
Presenting his fourth budget on Wednesday after the NDA came to power in May 2014, Finance Minister Arun Jaitley announced several benefits for the salaried class and the farmers. Softening the demonetisation blow, Jaitley halved the tax to 5 per cent on incomes upto Rs 5 lakh but proposed a new surcharge of 10 per cent on incomes between Rs 50 lakh and Rs 1 crore while stepping up allocations for infrastructure, rural, agriculture and social sectors.
The budget was a historic one as for the first time railway budget was merged with the finance bill and the date to present it was advanced by a month.is attempting to cleanse the 70-year-old opaque political funding system. He warned that parties not following the new rules would lose tax exemption.
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