New Delhi: Former Finance Minister P Chidambaram has expressed disappointment over the Union Budget presented by Finance Minister Nirmala Sitharaman, stating that while some ideas from the Congress manifesto were incorporated, many crucial ones were ignored.
In his statement, Chidambaram acknowledged the inclusion of proposals such as the Employment-linked Incentive (ELI) scheme, the Apprenticeship Scheme with an allowance to the apprentice, and the abolition of the Angel Tax. However, "I wish she had adopted many more ideas from the Congress Manifesto."
Unemployment and Inflation Concerns
Chidambaram emphasised that unemployment remains a significant challenge, citing that millions of candidates apply for a few dozen vacancies. According to the Centre for Monitoring the Indian Economy (CMIE), the all-India unemployment rate stands at 9.2%. He criticised the government's response as insufficient and exaggerated, disputing claims that the announced schemes would benefit 290 lakhs.
Addressing inflation, Chidambaram pointed out that the Whole Price Index (WPI) inflation is at 3.4%, the Consumer Price Index (CPI) inflation is at 5.1%, and the food inflation is at 9.4%. He condemned the Economic Survey and the budget for not seriously tackling the issue of inflation.
Education and Healthcare Shortcomings
The former Finance Minister also highlighted deficiencies in education, noting that nearly half of the children are unable to read or write a simple text and solve simple arithmetic problems. He criticised the government's approach to school education and the National Eligibility cum Entrance Test (NEET), calling for states to have the autonomy to select candidates for medical courses.
In the healthcare sector, Chidambaram pointed out the high out-of-pocket expenditure, the shortage of medical professionals and the decline in government spending on healthcare. He stated that public healthcare, though growing quantitatively, is not improving in quality.
Wage Stagnation and Farmers' Issues
Chidambaram noted that wages have stagnated over the past six years, with the average monthly earnings of workers remaining low. He called for a minimum wage of Rs 400 per day and criticised the budget for not providing relief to poorer sections, particularly non-tax-paying wage labourers and casual workers.
He also addressed farmers' protests, advocating for a legal guarantee for the Minimum Support Price (MSP) for agricultural produce, a promise made in the Congress manifesto.
Educational Loans and Agnipath Scheme
Highlighting the burden of unpaid educational loans due to high unemployment, Chidambaram suggested that the government should provide relief to current borrowers. He also reiterated the demand to scrap the Agnipath scheme and return to traditional methods of recruitment for the Armed Forces, noting ongoing agitation against the scheme. Chidambaram concluded that the budget did not adequately address these critical issues, leaving many citizens disappointed and struggling with unresolved challenges.
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