National President of Welfare Party of India Dr SQR Ilyas said the Union Budget presented by Finance Minister Nirmala Sitaraman of 2hr 40 min were more of jumlas and announcements with no action plan or concrete steps to address the deteriorating economy.
He said this budget failed to impress common man or the market with sensex crashing at almost 1000 points after the budget speech.Dr Ilyas added with no concrete program in the Budget proposals, to get the economy moving the recovery will now be a long, hard and slow grind upwards.
He said the government failed to make through tax is now going on selling spree it earlier sold BSNL, AirIndia etc and now in this budget disinvested nationalised LIC
and said it is appalling to see how the Central Government is destroying the public institutions.
He said new tax slabs were introduced in this budget which are more complicated in the name of symplifying.Penalty for the defaulters is waved off which will increase more defaulters and the taxpayers who studiously paid the tax will feel cheated.
There is nothing in this budget for common man, farmers,labourers and added wealth creators are respected if they are rich corporates but not the poor and added the farmers debt is not waived off in this budget .
No jobs creation for the youth in this budget except that a fresh engineer will be given an opportunity to work with urban local bodies for a year.