New Delhi: BJP Parliamentary Party on Tuesday
discussed the merits of the budget for 2011-12 at its weekly
meeting, describing it as a "politically oriented" in view of
the impending elections in five states and said it did not
address key issues of inflation, corruption and black money.
"This budget is entirely politically oriented keeping in
mind the Assembly elections in five states. But he (Finance
Minister) has tried to hoodwink people by mentioning figures
in the budget which are entirely suspect", senior BJP leader
Yashwant Sinha told reporters after the meeting.
Sinha made a presentation on the budget at the BJP
Parliamentary Party meeting.
Citing an example, Sinha said the expenditure on subsidy
was projected to Rs 1,16,000 crore in the current year which
had gone upto Rs 1,64,000 crore. However, for next year it has
been kept at Rs 1,43,000 crore.
"This is totally inadequate considering the increase in
international crude prices, fertiliser subsidy and increase in
MSP of various agriculture crops and the proposed Food
Security Bill. This figure is unacceptable and bound to rise.
The fiscal deficit being projected at 4.6 per cent of GDP in
the next budget is highly suspect", he said.
Rs 10,000 crore for Bharat Nirman is inadequate, he said.
The mention of black money, which BJP has been raising
for some months now, also did not satisfy the main opposition
which felt the government only reiterated its earlier stand.
"The Finance Minister has made a very dangerous proposal
in the budget, namely, of allowing foreigners to invest in
Indian stock market through Indian Mutual funds.... Is this
opening a route for Indian black money to come back to India?",
He said only the provision of Know Your Customer was not
enough as shown by recent bank frauds.
BJP stated that the government did not come out with any
solid step to control inflation as shown by the Economic
Survey and the budget.
"The word unemployment, which has been going up in the
last 6-7 years, has found no mention in the budget", Sinha
The BJP leader said the Finance Minister has been
"timid" on taxation.
"What has been given in direct taxes, has been taken away
through indirect taxes. Overall, this is a misleading and
timid budget", Sinha said.