New Delhi: Aam Aadmi Party on Thursday alleged that the Budget presented by Finance Minister P Chidambaram was a "clever attempt to mislead" public ahead of elections as it offered little remedy for the key problems facing the Indian economy.
In a statement, the party claimed that the common man has reasons to feel "disappointed, if not cheated" with the Budget.
"The Union Budget presented by the Finance Minister is a clever attempt to mislead the public in an election year. The Finance Minister`s speech offers little remedy for the key problems facing the Indian economy that he himself begins by acknowledging: Slowdown of growth, rising fiscal deficit and current account deficit.
"The current crisis required the government to stimulate domestic investment by encouraging consumption from below; instead the FM remained focused on Foreign investors. Controlling inflation required expansion of PDS and reinforced subsidies on energy and focus on increasing agricultural output in pulses and oilseeds; instead the government has relied on hope," it said.
The much talked about move to tax the rich turned out to be a damp squib, as it would affect only 42,000 super rich and bring very small gains for the country.
This small gain would be more than made up by the generous increase in the tax exemption, mostly for the well-offs and the corporates, the party alleged.
"It is unfortunate that even the opposition has not drawn the country`s attention to these statistical lies and inattention to the needs of the `aam aadmi`. Aam Aadmi Party resolves to take this collective conspiracy of the political establishment to the people`s court and place the concerns of `aam aadmi` at the heart of our economic policy," it said.