Union budget fails to real issues like unemployment, inflation, disparities: Left

NEW DELHI: Following the presentation of the union budget on Saturday, the Left parties launched a scathing attack on the Centre for ‘neglecting the challenges faced by the Indian economy’.

The Communist Party of India (CPI) said that rising unemployment, inflation, increasing inequality and regional disparities are some of the major issues being faced by the people however the budget fails to address them.

The CPI-Marxist (CPM), however, stated that the budget reflects the bankruptcy of the Narendra Modi government. Through a statement, it alleged that the budget is committed to protecting the interests of the rich and corporate sector that it is not even able to formulate any real policy to address the slowdown in the economy.

It also said that the budget is a cruel betrayal of the requirements of the people of India.

The CPI also expressed concerns over the falling value of the rupee. “Already the economy is in a bad shape and the value of the Indian Rupee has fallen to an unprecedented low level. Foreign debt is increasing…Social sector and welfare of the marginalized people are neglected as schemes like MNREGA are not given importance and there is no adequate allocation on education, health and social sector,” read the CPI statement.