D Raja, General Secretary of the Communist Party of India, issued the following statement terming the Union Budget 2022 as the most disastrous one: The National Secretariat of the Communist Party of India terms the Union Budget presented by Finance Minister on February 1, 2022 as the most disastrous one which will further widen the gap between the haves and have nots.
The Budget proposals announced by the Finance Minister are totally disastrous and deceptive. At a time when the country and our economy has been suffering from economic crisis which further worsened due to pandemic situation. But there is no concrete proposal in the Budget that would help the economic revival, he added.
He also added in his statement that the Finance Minister has claimed that the estimated growth would be at 9.2 per cent but there is no reason to believe that this would actually materialize. During the entire pandemic period, when toiling people have suffered from job losses and are facing issues for their livelihood, the Government has been concentrating on supply side by pumping in more concession to the industrialists and corporates instead of boosting consumption by enabling some money with the masses of the people. Despite these huge concessions to them, the production has not picked up as revealed by the Index for Industrial Production.
The priority should have been to generate more and more jobs. But there is no plan in the budget to generate more employment.
Similarly, prices are continuously soaring high and containing inflation is another priority task. But again, the Budget has not addressed this issue.
The Economic Survey Report presented by the Government says that Central Public Sector Enterprises have made a net profit of more than Rs. 93,000 crores last year but ironically the Government has been weakening public sector by privatizing them.