‘Govt politically unwilling to tax the rich, cutting funds from welfare schemes’

NT Correspondent

Bengaluru: The Central Committee, CPI(ML) Liberation, had bashed the union government for misplacing priorities in the recently concluded Union Budget on Sunday. On Saturday February 1, Union Finance Minister Nirmala Sitharaman presented her eighth consecutive budget. The leftist party had explained the backdrop of the budget, with food inflation, growth stagnation and the tumbling rupee being its main point, a press release from the CPI(ML) said.

“It was hoped that the government would deliver a budget which would give relief to the needy by taxing greedy to curtail growing economic inequality which is hitting aggregate demand. But the government failed to course correct itself from its pro-rich image,” it further added. The main talking point in the budget was the tax relief for the salaried class. It was announced that income below 12 lakhs will entertain no tax. However, the poor are left with no major announcement in the Goods and Services Tax (GST) cuts nor welfare measures.

“With the government lacking the political willingness to increase taxes on corporates, rich and wealthy, the budget numbers are sought to be balanced through cutting expenditures on welfare, social, agricultural and rural sectors. It further said. Expenditure cuts on welfare schemes like the flagship Pradhanmantri Awas Yojna and National Rural Drinking Water Mission, MGNREGA, Gram Sadak Yojna, scholarship for Scheduled Castes were condemned by leftist outfit.