Budget 2014

Budget 2014-2015: A Modi-Manmohan Joint Venture

THE first sentence of the new finance minister's budget speech was "The people of India have decisively voted for change…" However the first opportunity presented to the new government to signal the beginning of the expected that they promised did not happen. When the Left parties had said that as far as economic policies are concerned the Congress and the BJP are two sides of the same coin, both parties had dismissed this critique as Left propaganda. But the first budget of the Modi Sarkar substantiates the Left critique in no uncertain terms.

On Union Budget

The Polit Bureau of the Communist Party of India (Marxist) has issued the following statement on July 10.

THE debut budget of the BJP government expresses deep commitment to continue the trajectory of reforms of benefiting foreign and domestic capital by emphasising on larger FDI flows and enlarged avenues for PPP projects. Fiscal consolidation is sought to be effected through contraction of public expenditures and not by increasing revenues through taxing the rich. Thus it is a recipe for further enriching the rich and impoverishing the poor.

On Union Budget

The Polit Bureau of the Communist Party of India (Marxist) has issued the following statement on July 10.

THE debut budget of the BJP government expresses deep commitment to continue the trajectory of reforms of benefiting foreign and domestic capital by emphasising on larger FDI flows and enlarged avenues for PPP projects. Fiscal consolidation is sought to be effected through contraction of public expenditures and not by increasing revenues through taxing the rich. Thus it is a recipe for further enriching the rich and impoverishing the poor.

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