In consent with former union finance minister P. Chidambaram’s recent views tearing into demonetization, the Congress has stated that this scheme was a bogus move adding that Finance Minister Arun Jaitley could not do much for the public through it.
“What Chidambaram has criticized is absolutely correct. After demonetization the whole economy has been disrupted. Demonetization was a bogus move and Arun Jaitley couldn’t do much for the public. This government is a failure; they don’t know what they have to do,” said Congress leader Hussain Dalwai.
He further said that because of demonetization all small sector industries are shutting down gradually, causing unemployment. The government said that it would provide employment to at least nine crore people but that didn’t seem to happen.
“Through this budget they are trying to overshadow the impact of demonetization. I cannot see any advantage of this move. Though they said that those earning below Rs. 3 lakh annually won’t have to pay the tax, but today value of 3 lakh is nothing. We thought it would extend up to 5 lakh annual income,” he added.
He also said that the incorporation of Railway Budget with the General Budget was a bad decision altogether, as there is no solution for the common man. Also, progress in infrastructure, is not visible.
“Arun Jaitley is helpless because he does not know how to handle this situation. During the UPA government the growth was visible, but now it has come down. I don?t think the government has provided anything which will improve the position of the industries,” Dalwai said.
Releasing a document titled ‘Real State of the Economy 2015’, two days ahead of Budget Session, Chidambaram said the document presents true assessment of the state of India’s economy and is supported by hard research and data.
“Yet if the government presents a rosy picture of the economy tomorrow, people of India are entitled to question that,” he said.
Pointing out that the Congress-led United Progressive Alliance (UPA) government was able to deliver 7 percent GDP during its 10-year tenure, Chidambaram said the current dispensation has failed to sustain the growth rate and has failed to create jobs for the people.