Published: 11th February 2018
Chidambaram's Take: Ten points that show you everything that is wrong with the Union budget
Former Finance Minister and Rajya Sabha MP is extremely sceptical of the lastest budget. Find out why.
This year's Union Budget has not been received too well by many but perhaps the one person who has been quite vocal about his dissatisfaction is former Union minister P Chidambaram. He went on to elaborate on his views at an event organised by Loyola Institute of Business Administration in Chennai to critically analyze the Union Buget 2018. These were some of his most stand-out quotes during the session -
-Every budget must have a purpose. It is not enough to just talk about revenue and expenditure. But the budget must explain why we are raising this revenue and expenditure. Unfortunately the Centre has ignored the context with which the budget is being presented. It has no purpose at all, except perhaps to win the elections.
-We had an economy that was growing at 7.5 in 2014-15 and 8.2 in 2015-16. We shot ourselves in the foot after that. We shot on the right foot with Demonetisation. And before the right leg could heal, we shot ourselves with the implementation of GST. It is disappointing. I sincerely hope we will not shoot ourselves in the head next.
-I would have expected that the hallmark of the union budget 2018 would be courage but unfortunately courage seems to have deserted the central government. This budget should have concentrated on welfare specially after demonetisation and GST.
-Numbers tell a story that words cannot tell. This budget will find a place in history for breaching every deficit target.
-This government is not only a reckless borrower but also a reckless spender.
-If the PM wished you Happy New Year, I suggest he takes it back because 2018 will be the year of high inflation.
-The government has failed to provide jobs.The government has failed in every major challenge.
-If you failed in agriculture, if you fail in education, if you fail in employment then why are you the government
-This government has failed fiscal consolidation, it has failed agricultural challenges, it has failed in providing employment. It has failed the people of India.
-Their definition of the jobs of course is frying and selling pakodas. I am not saying this, the PM is saying it.
-There is a meme on social media that says a PhD holder sells pakoda for Rs 25, MA, MSc for Rs 15, BCA for Rs 10 and 8th pass for Rs 1. This is an insult to the intelligence of the young people of India.