Former Finance Minister P Chidambaram Addresses Media: Highlights

Congress leader and former Finance Minister P Chidambaram spoke on the Union Budget 2016-17 that was presented today. Below are the highlights: . First impressions on the budget, haven't had a chance to go through it thoroughly Big takeaway for the citizen? No big idea. The first two NDA budgets were forgettable NDA followed its own brand of budget making (housekeeping and accounting) Happy that the government has achieved the fiscal deficit target this year I am happy that the UPA schemes have been continued but the crucial problem is price There is no major initiative in increasing productivity of crucial crops The government is unaware of problems of the core sectors- power, steel mining, cement, oil and gas. Many projects are stranded and there is little new investment. There is no mention of exports. I think after 14 consecutive months of negative growth, he government has given up on exports front Lukewarm reference GST. No promise to accommodate legitimate criticism of Opposition Clearly the budget was expected to be political, I am not surprised It is the third budget of a the government which presented two forgettable budgets. We expected a political budget, I am not surprised One of the main reasons for acute distress in rural area is farmers are not getting fair and remunerative price In many cases there was very poor increase in Minimum Support Price (MSP); in some cases there was zero increase in MSP

Former Finance Minister P Chidambaram Addresses Media: Highlights

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