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Budget shows UPA`s policy paralysis: Jaya

Last Updated: Saturday, March 17, 2012 - 00:48

Chennai: Dubbing the Union Budget as
`anti-people,` Tamil Nadu Chief Minister J Jayalalithaa on Friday
said it reflected the `continued policy paralysis gripping`
Manmohan Singh led UPA Government.

"This Budget is an exercise in futility, an ill-wind that
blows nobody any good, and to top it all, anti-people... it
demonstrates the continued policy paralysis gripping the Union
Government," she said.

In a four-page detailed reaction to the budget presented
by Finance Minister Pranab Mukherjee, Jayalalithaa said it did
not provide any tangible solutions to the problems crippling
the Indian Economy" which is at a cross-roads facing
insurmountable problems and required `some bold measures.`

The AIADMK supremo said the Budget exercise turned out to
be `Business-as-usual` with some tinkering here and there.

It did not offer any solution to check slowing economic
growth, she said adding the projected growth rate of 7.6 per
cent would be difficult to achieve as no real stimulus for
growth and sops to private investment had been provided.

"While there has been a lot of tall talk of bringing back
the black money stashed in foreign countries for more than
three years now, nothing tangible has been done on that
count," she said.

On the Budget pledging full subsidy support for the
proposed Food Security Bill, the AIADMK leader said her
government had already opposed the legislation `tooth and
nail` as it will distort the Universal PDS of Tamil Nadu.

Direct transfer of subsidy on fertilisers to retailers
would only cause great harm to the farmers, she added.
Holding that there was no announcement to enable states
directly raise resources to implement infrastructure projects,
she said the Centre could have created an instrument for
raising debt funds to provide support to such projects similar
to the infrastructure debt fund to finance Central projects.

"In short, the Budget presented today in Parliament is a
poor reflection of the commitment of the Central Government to
take the economy forward on a growth trajectory.


First Published: Friday, March 16, 2012 - 17:47
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