Union Interim Budget Draws Flak : CPI(M) Himachal Pradesh
The Himachal Pradesh unit of the Communist Party of India (Marxist) has denounced the Union government’s Interim Budget as pro-corporate and detrimental to the well-being of the poor and common man.
Dr. Onkar Shad, state secretary of the party, issued a press release today expressing concerns about the economic direction reflected in the budget estimates. He highlighted:
- Unequal Development: The government’s vision, evident in low growth figures, seems to prioritize “enriching the rich while impoverishing the poor.” This is exemplified by rising income share for big businesses and high-income individuals amidst sluggish economic expansion.
- Reduced Social Spending: The budget reveals cuts in crucial sectors like agriculture, healthcare, education, and social welfare schemes like PM Awas Yojana and MGNREGA. Compared to 2022-23, allocations for women’s empowerment, child development, and urban development also fall short.
- Subsidy Reduction & Neglected State Needs: Food and fertilizer subsidies have been reduced, further burdening lower-income groups. Additionally, the budget fails to address the severe economic losses Himachal Pradesh incurred due to the recent monsoon season, exacerbating its existing economic crisis.
- Inflated Growth, Understated Inflation: The party criticized the unrealistic GDP growth projection of 7.3% and questioned the artificially low inflation rate of 1.6%. They emphasize the more accurate reflection of true inflation in the RBI’s recent repo rate hike, indicating a 6% inflation rate for 2023-24, particularly evident in the rising food prices.
The CPI(M) Himachal Pradesh urges the government to prioritize the needs of the common people and address the state’s pressing economic concerns by revising the budget with increased social spending, realistic growth estimates, and genuine inflation figures.
