Chandigarh, 28th February 2011: Bharatiya Janata Party Chandigarh under the chairmanship of Sh. Sanjay Tandon, President reviewed the budget presented by Finance Minister Sh. Pranab Mukherjee. Prominent financial experts present on the occasion include Sh. Pramod Bindal, Navneet Gupta, L.R. Kalra, Vishwas Aggarwal, Bharat Bhushan Singla, Vinay Grover, Rajneesh Khattar, M.S. Khurana, Anil Kalia and S.K. Gupta among others.
Sh. Tandon said that the Union Budget, presented by the Union Finance Minister is a document without a vision. There is no big idea, which has guided and motivated the Budget presentation exercise. It is an unimaginative budget, which has little nexus to the issues confronting the Indian economy. The Finance Minister has merely utilized the expanding base of the Indian economy to marginally increase the allocations for different departments/schemes. On the taxation front, he has presented a near revenue neutral budget by reducing direct taxes marginally and increasing the indirect taxes.
This Budget was expected to address the evil of Black money, which has corrupted even India’s polity. Unfortunately, nothing has been done in that direction. Sucking black money out of the system would also reduce the additional liquidity for this colour of money from the market. Sectors, which are responsible for generating excessive black money had to be looked into and remedial measures found. The finance minister has ignored the extent of the problem that is eating into the very vitals of the Indian economy.
Mr. Tandon said that the youngsters are facing unemployment due to which most of them are compelled to look for overseas employment. But nothing has been done to provide employment to the youths. Nothing has been done for women and the salaried people. No benefit has been given to the Corporate houses.