STOCK MARKET BSE NSE

Budget Will Not Contribute Towards Growth: Jayalalithaa

Published: 17th February 2014 04:40 PM  |   Last Updated: 17th February 2014 04:40 PM   |  A+A-

Tamil Nadu Chief Minister J. Jayalalithaa Monday said the budget presented by Union Finance Minister P. Chidambaram was only an interim budget and will not contribute towards stability or growth in the country.

"It is only an interim budget. The main budget that will be presented in June 2014 by a new central government will undoubtedly do what is necessary to reverse much of the damage caused by the 10 years of the United Progressive Alliance rule and truly put the country on a path of high growth," she said in a statement.

The Chief Minister said the budget will not take the country on the road to economic recovery.

She said the human shield provided by some parliamentarians to Chidambaram while he presented the budget showed the lack of "safety and security" within the house and reflects the "total failure of the UPA government and governance to take the people and parliament along".

"The sharp slowdown in the manufacturing sector's growth was also caused by the poor macro-economic management of the UPA government and they cannot absolve themselves of the responsibility," she said.

Citing the reduction in plan expenditure by over Rs 79,790 crore between budget estimates and revised estimates for 2013-14, she charged Chidambaram with having promised allocations and slashing them later.

"And in 2014-15, plan expenditure has been retained at current year levels. It is perhaps the UPA government's way of investing in growth," she said.

Terming as "hollow" the claims of achieving fiscal stability and fiscal road map targets, Jayalalithaa said: "It is easy to do so if all revenues are fully estimated and accounted for, while expenditures are not provided for and postponed."



Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

edexworks
flipboard facebook twitter whatsapp