On Saturday, Congress leader and Minister for Revenue in Maharashtra, Balasaheb Thorat tweeted his disapproval of the Union Budget 2020 and said that "Maharashtra was left disappointed" with the new budget. Earlier in the day, Finance Minister Nirmala Sitharaman announced the new Union Budget in a 160-minute speech wherein she introduced multiple welfare schemes for the benefit of the middle class including multiple tax cuts as well as a 16 point plan for doubling the income of the farmers.
Alleging that Maharashtra was ignored despite "giving the largest share of taxes," Thorat tweeted, "Where is Maharashtra in #Budget2020? Mumbai and Maharashtra that give the Centre largest share of taxes has been left disappointed by the Modi government. Is Maharashtra less important for the government? (sic)"
#Budget2020 is nothing much a mix of old schemes, big announcements and figures. The budget presented by Nirmala Sitharaman is good for 'headline management' but there is nothing for the common man in it.— Balasaheb Thorat (@bb_thorat) February 1, 2020
Thorat also stated that the Centre's promise of doubling of farmers' income by 2022 was also announced back in 2014. "For the income to actually double, a growth rate of 11% will be required, which is at 2% currently. This announcement too is unrealistic and impractical (sic)," he tweeted. He also showed apprehension about the Finance Minister's idea of 5 new smart cities stating that the budget was filled with too many "fanciful announcements".
The finance minister announced setting up of 5 new smart cities and 100 new airports. What is the status of the 100 smart cities that were announced previously? The budget is full of such fanciful announcements which are not implemented in reality.— Balasaheb Thorat (@bb_thorat) February 1, 2020
While delivering the budget, Union Finance Minister Nirmala Sitharaman made a crucial announcement about the divestment of LIC. The government will sell a part of its holding in LIC through the initial public offer. Speaking on this Thorat said, "The government announced that it will be selling its stake from #IDBI bank and #LIC. After this, will the common man's savings in these organizations remain safe? These are the signs of a troubled economy, when will the government accept it. Privatization of government entities like railways and #LIC are the options left with the government. This is a worrisome trend. (sic)"
The growth rate of the country is rapidly falling in 2020-2021 too is likely to remain at 6%. In such a situation, where is the government going to raise money for the schemes announced today?