Press Statement from from Confederation Secretary General regarding Union Budget-2011
Here it has been reproduced the view of the Union Budget-2011 from Confederation Secretary General... PRESS STATEMENT Dated. 28.02.2011 The Union budget 2011 presented by the Finance Minister today in the Parliament must be very disappointing for the common man for there is no proposal to combat the ever increasing inflation in the economy. The subsidies all on fuel, fertiliser and food has been reduced by all most 20,000 crores compared to what was provided in the last fiscal. While there is a reduction of Rs 11500 crores in Direct Taxes the resource mobilization has been made through an increase of a similar amount in indirect taxes the objective seems to be to rob the poor to pay the rich. 5 lakh crores of rupees is stated to be the revenue foregone in 2010-11 of which a whoping sum of Rs. 88000 crores is the concessions given to the Corporate Sector.The budget provision for agriculture development is also less than what it was earlier, indicative of an insensitiveness to...