Union Budget 2020: MK Stalin Terms Budget As 'pro-rich,anti-middle Class & Direction-less'

Politics

DMK chief MK Stalin on Sunday termed the Union Budget 2020-21 presented by Finance Minister Nirmala Sitharaman in the Parliament as a 'concession for the rich.'

Written By Varsha Chavan | Mumbai | Updated On:
Union Budget

Dravida Munnetra Kazhagam (DMK) President MK Stalin on Sunday termed the Union Budget 2020-21 presented by Finance Minister Nirmala Sitharaman in the Parliament as a 'concession for the rich.' Terming the Budget as directionless, Stalin also said the BJP government has not bothered about the economic stagnation, unemployment, and condition in rural areas. Stalin was speaking at a signature campaign that has been launched by DMK against the CAA in Chennai.

Addressing the people Stalin said, "Budget 2020 does not have anything for poor and backward people, rather it was like a statement read out as concession for the rich. It has nothing for the welfare of poor and downtrodden or to resolve the problem of unemployment. The entire budget is focused on the corporate sector and not on the poor and the income tax proposals damage all kinds of social security measures."

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Earlier on Saturday, Stalin took to the microblogging site to express his concerns and opinion on the Union Budget 2020. 

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Union Budget 2020

This year's Budget assumes tremendous significance as the Indian economy is facing multiple challenges such as a rise in inflation, unemployment, farmer distress and a dip in GDP growth. While beginning her Budget speech, the Finance Minister had said that the focus would be on increasing incomes and elevating purchasing power. She had outlined its three themes - 'Aspirational India, Economic Development for all, and that India shall be a caring society.'

The Budgetary session commenced from January 31 with the budget being presented on February 1. The first phase of the session will conclude on February 11, while the second part of the session will begin from March 2 and end on April 3. On January 31, the government presented the economic survey which gave an overview of how the economy fared in 2019. The Indian economy gained a lead ahead of the UK and France to gain the fifth position in terms of GDP by making a 2.3 trillion dollar economy. According to the economic survey 2020, despite a slowdown in the Indian economy, it has managed to stay afloat in the global slowdown, faring better than the BRICS nations such as Brazil, Russia, South Africa and is on par with China. 

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