In a scathing pre-budget critique, the Congress party has accused the impending Union Budget of prioritizing the enrichment of a few capitalists over addressing critical concerns like unemployment, inequality, and dwindling foreign direct investment (FDI).
Congress Spokesperson Criticizes Consultation Process
During a press conference, Congress spokesperson Supriya Shrinate questioned the finance minister’s consultation process, highlighting meetings with capitalists, industrial lobbies, and economists, while seemingly neglecting the common people grappling with soaring inflation and job losses. Shrinate contended that the budget is being crafted to foster monopolies and further enrich the already wealthy, at the expense of the majority of the population.
Neglect of Pressing Concerns Alleged
Shrinate raised pertinent questions about the allocation of funds for railway safety, citing recent train accidents, and questioned the government’s claims of job creation, pointing to the loss of 2.7 lakh jobs in central PSUs under Prime Minister Modi’s tenure. She also highlighted the escalating economic inequality, with 1% of the population owning 40% of the wealth, and questioned whether the budget would address this widening gap.
Soaring Inflation and Dwindling FDI
Furthermore, Shrinate underscored the persistent food inflation exceeding 9% and a staggering 30% increase in vegetable prices, painting a grim picture of the economic hardships faced by ordinary citizens. She also raised alarm bells over the drying up of FDI and India’s trade deficit with nine of its top ten trading partners, indicating a lack of confidence in the Indian economy from both domestic and international investors.
Key Takeaways
| Key Points | Details |
|---|---|
| Congress criticizes Union Budget for favoring capitalists. | The party alleges that the budget prioritizes enriching a few at the expense of addressing unemployment, inequality, and dwindling FDI. |
| Finance Minister’s consultation process questioned. | The Congress spokesperson highlights meetings with capitalists and industrial lobbies, while questioning the lack of engagement with the common people facing economic hardships. |
| Concerns raised over neglect of railway safety and job losses. | The party questions the allocation of funds for railway safety following recent accidents and challenges the government’s claims of job creation. |
| Escalating economic inequality and soaring inflation highlighted. | The Congress spokesperson emphasizes the widening wealth gap and the burden of rising food and vegetable prices on ordinary citizens. |
| Concerns raised over dwindling FDI and trade deficit. | The party expresses alarm over the drying up of foreign direct investment and India’s trade deficit with nine of its top ten trading partners, indicating a lack of confidence in the Indian economy. |
Soumya Smruti Sahoo is a seasoned journalist with extensive experience in both international and Indian news writing. With a sharp analytical mind and a dedication to uncovering the truth, Soumya has built a reputation for delivering in-depth, well-researched articles that provide readers with a clear understanding of complex global and domestic issues. Her work reflects a deep commitment to journalistic integrity, making her a trusted source for accurate and insightful news coverage.
