The Hindu : 'Common man will be hit'

Online edition of India's National Newspaper
Friday, Mar 01, 2002

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'Common man will be hit'
By Our Special correspondent

NEW DELHI FEB. 28. The Union Finance Minister, Yashwant Sinha's budgetary proposals, especially those pertaining to the hike in the prices of cooking gas and kerosene and the reduction in the subsidy for agriculture, have evoked a strong reaction from the Opposition parties and even the Government's allies.

The Congress said the budget was directionless and bereft of a structure. Its spokesperson, Jaipal Reddy, said the budget was characterised by intellectual fatigue, political bankruptcy, and fiscal collapse. Also, it would lead to an investment famine and deceleration in industrial growth. The increases in the prices of fertilizer, LPG and kerosene ``made a mockery of the Government's supposed commitment to the farmers.''

The Left parties said the Budget was prescribed by the World Bank, the IMF and the WTO and that it was devoid of any measures aimed at reviving the economy which was in a ``deep all-round crisis.''

The CPI central secretariat said that despite tall claims of putting the main thrust on agriculture, the prices of urea and other fertilizers had been hiked and in the name of encouraging a change in the crop pattern, the Minimum Support Price for wheat, rice and other traditional crops had been withdrawn. The increase in the prices of LPG, kerosene and postal rates would hit the common people.

The CPI(M) politburo said that instead of ``kick- starting'' the economy, the proposals could compound the recessionary trend. The Government continued with its policy of subsidising the rich and imposing greater burdens on the poor.

The Janata Party president, Subramanian Swamy, predicted the budget would have ``disastrous consequences'' for the current stagnating economy.

A bold budget: PM

PTI reports:

Terming the budget as ``bold'' despite the global recession, the Prime Minister, A.B. Vajpayee, today asserted that economic reforms would not affect developmental activities and that employment opportunities would be improved.

Some ``unavoidable'' burden has been passed on to the common people but ``I am sure they will accept it,'' he told newspersons after the budget presentation.

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