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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
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