Budget 2019-20

Union Budget, a Gift to Corporate India

THE union budget for 2019-20, presented by Finance Minister, Nirmala Sitharaman in parliament on July 5, fails to live up to the expectations of the vast majority of the people – workers, farmers, agricultural workers, women and the disabled. The first budget of the Modi-2 government is a gift to the corporate India and foreign financial interests who will strengthen their hold on economy. Below we publish the statements issued by various organisations on July 5, on the budget.

ANTI-PEOPLE & ANTI-WORKER: CITU

Decoding the Budget Numbers, and the Words!

SINCE Piyush Goyal tabled the interim budget before parliament earlier this year (February 1, 2019), the Lok Sabha elections giving the Modi government an almost certain additional five years in office is not the only development. In addition to the reality of deepening agrarian distress and grim employment situation that were known even then, at least three other mutually related hard facts relevant to the finalisation of the budget for 2019-20 have also become known since, being acknowledged even by the Economic Survey.

The Numbers the Finance Minister Does Not Want You to See

ONE of the most startling aspects of Finance Minister Nirmala Sitharaman’s speech is that it did not provide the numbers that are the basic reason for having a budget speech in the first place: the numbers relating to overall revenues and expenditure of the government, either for the previous year or for the current year. This was widely commented on, and the FM’s response was that all these numbers are available in the supplementary material provided in the budget documents, so there is no need to go into them in the speech.

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