Union Budget pro-corporate, anti-poor: CPI(M)

Jammu: State unit of CPI(M) on Saturday slammed the Union Budget as "anti-poor", and said it betrays a clear bias towards the corporate and the rich.

"The Budget reflects clear bias towards the corporate and the rich, who have been given tax rebates that will further widen the gap between the rich and poor," CPI(M) state secretary Mohammad Yousuf Tarigami today said.

The Budget is anti-poor and devoid of vision to tackle galloping price rise that has hit common man country wide, he said.

In a statement, he flayed the Central government for announcing cut in subsidies to fertilizers by 6,000 crore, saying the step will propel fertilizer prices and harm the interests of farmers especially those who own small holdings.

He also opposed the cut in subsidies in fuel prices by 25,000 crore, saying the move would inevitably lead to further hikes in fuel prices, which will have cascading impact on the prices of all essential commodities.