New Delhi: Calling the Union Budget for the financial year 2023-24 “callous,” Congress leader and former Finance Minister P Chidambaram alleged Wednesday that the government has forgotten the middle class. “This shows that the government is relying on other ‘factors and forces’ to win elections.”
He dismissed the revision of income tax slabs as a minor relief that only applied to those who had switched to the new tax regime.
“What proportion of taxpayers moved to the new tax regime? The Income Tax Department is expected to release basic data every year. Last data released was for the financial year 2019-20. Why has data not been released? The government first needs to tell us how many switched to the new regime,” Chidambaram added.
When asked about his son and Congress MP Karti Chidambaram welcoming the Union Budget he said: “I don’t know if he has switched to the new regime.”
The former finance minister also said that it seems that the government is trying to make people move to the new regime and do away with exemptions that offer people some social security.
He also questioned the Budget figures, which show a nominal growth rate of 15.4 per cent, which is much above the earlier estimate, but the real GDP growth estimated by Finance Minister Nirmala Sitharaman stands at only 7 per cent. “It is beyond my capacity to understand how nominal growth and real growth are so different. Somebody should explain. In any case when you look at the data given it is clear that quarter on quarter during the current financial year the GDP growth is falling. There’s no mention of poverty and unemployment.”
In his statement, Chidambaram said that the Budget speech shows that the government is removed from the people and their concerns about life and livelihood. “Let me begin by pointing out, with regret, that the FM has not mentioned the word, unemployment, poverty, inequality, or equity, anywhere in her speech. Merciful, vicious, mention the word put voice in her speech. I am sure the people of India will take note of Kunal in the concerns of the government and who are not,” he added.
The Congress leader further pointed out that while allocating more money for capital expenditure in the railways is a good step, there are many sectors where the government has failed to spend previous years’ allocations.
“Please look at the record of the government. It allocates money but spends less. As for the railways, how many exams have been cancelled and how many posts are vacant? Only when you spend money and fill vacancies will your objective be really fulfilled,” he added.
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