‘Disappointing Union budget by a lame duck Centre’

Last Updated: Friday, March 16, 2012 - 15:56

Patna: Bihar Chief Minister Nitish Kumar
on Friday expressed disappointment with the union budget saying it was presented by a `lame duck` government at the Centre and would lead to price rise due to hike in excise and service taxes on various goods.

"The union budget presented by a lame duck government
at the Centre is useless and disappointing. There is nothing
substantial in the financial proposals to boost the economy or
to benefit the people", he told reporters.

The UPA government appears not to care much about price
rise nor has it proposed anything to remove regional
imbalance, he said, adding, the budget made him feel that the
Centre lacked confidence to deal with economic concerns.

The union budget has allocated Rs 1000 crore in the
next fiscal as assistance to eastern states for the second
green revolution-related works as against Rs 400 crore last
year but Bihar would get only Rs 50 crore, which would be
insufficient to boost its agriculture sector.

Besides, he said, there was no mention in Union Finance
Minister Pranab Mukherjee`s budget speech about increase in
the special package to Bihar to compensate for losses due to
its bifurcation.

Despite meeting Mukherjee recently and apprising him about
the state`s financial condition, Kumar said, there was no
mention about increasing the special package.

The Centre, he said, had apparently not appreciated the
measures taken by the NDA government in Bihar to boost its
agriculture sector through a road map which has resulted in a
record paddy and potato production in the state.

"The budget did not talk about giving incentives to us for
the turnaround of the agriculture sector", the chief minister
said.

The Centre also appeared to lack vision to address
economic issues, particularly in the agriculture sector and to
mitigate regional imbalance, he said and criticised it for
increasing indirect taxes to compensate for the loss arising
out of minor decrease in direct tax.

PTI



First Published: Friday, March 16, 2012 - 15:56

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