Tax reductions in Budget for middle-class is a bluff: Mitra

Kolkata: State Finance and Industry minister Amit Mitra criticised the Union Budget heavily and claimed that it would further cause a slide in the economy of the country and termed the tax reduction for the middle-class as "nothing but a bluff".

He also criticised it for not addressing issues that have been an area of concern for the country. He dubbed the budget as anti-people and thoughtless and claimed that it had left out the bottom of the pyramid in every manner.

"Before the budget, the Indian economy was in ICU. Now it has been pushed into the ventilator. It's having difficulty in breathing," Mitra said reacting to the budget.

"Before the Budget, the GDP was at 11 years low, private consumption was at its seven-year low, investments at a 17-year low, manufacturing was at a 15-year low and agriculture at a four-year low. None of these issues have been addressed," he asserted.

The Finance minister pointed out radical reduction in Central funds in schemes of agriculture, health, education, SC/ST. There has been a reduction of 8.9 per cent together in all these sectors and this means that this government

in Centre does not have any vision of what the social infrastructure is all about," he maintained.

He presented a contrasting picture of growth in various parameters in the state since the Mamata Banerjee government assumed power in the state in 2011. "Our agriculture has grown by nine times, the social sector has grown by 4.5 times. This is Mamata

Banerjee's vision of taking the bottom of the pyramid to the centre stage of economy," he added.

He further said that the allocation for 100-day work under the National Rural Employment Guarantee Act (MGNREGA) has "shockingly been reduced" in this Budget which is in sharp contrast to Bengal that has had the highest number of man-days in the 100 days work and also the highest allocation.

"The National Health Mission has been reduced by one per cent which has never happened before," he added.

He expressed his concern that issues like unemployment in the country was not addressed but privatisation of the Railways and LIC was mentioned. "LIC has already been put into ICU with Rs 30,000 crore in terms of non-performing assets," he added. Finance minister Nirmala Sitharaman said that the Centre proposes to sell a part of its holding in LIC through an initial public offer in her Budget speech.

Established in 1956, LIC is fully-owned by the central

government and has the highest market share in the life insurance segment in the country.