Budget ‘Nonsensical and Directionless’: Jaipal Reddy
Hyderabad: Describing Prime Minister Narendra Modi as a tyre full of air when he announced demonetization of big currency notes, former Union Minister Sudini Jaipal Reddy has described the former as a punctured tyre after announcement of the Union Budget on Wednesday.
Speaking to the media at Gandhi Bhavan here on Thursday, Jaipal Reddy dubbed Union Finance Minister Arun Jaitly’s budget as “nonsensical and directionless”. The Centre has poured water on the hopes of the people and left them depressed, he said, adding that the common man did not get relief with the budget though the Centre was saving Rs 1 lakh crore every year with the decrease of oil prices internationally.
Stating that country’s economic system was in doldrums, the former Union minister lamented that he never saw such a “hopeless” budget in the last 70 years. There were no new railway lines, industries and the existing industries were not working to their capacity, he said and claimed that the people were facing hardships and losses since the last three months due to ban on big denomination notes.
Demanding that Chief Minister K Chandrasekhar Rao give an explanation to the people on any benefits to the State post-budget, Jaipal Reddy opined that reforms in political funding were just peanuts. He also said black money would not flow through the political parties. The political parties, which used to search for benamis for Rs 20,000 have to search for benamis for Rs 2,000, he quipped.