Budget provided no opportunity for economic revival: Narayanasamy

PUDUCHERRY: Puducherry Chief Minister V Narayanasamy said that the Union budget has provided no opportunity for the economy to capture the pace and grow sustainably.

"In 2020, people suffered, lost livelihood, and the economy hit rock bottom. There were a lot of expectations that the budget would give a boost to the revival of the economy. Unfortunately, it was disappointing," he said.

The allocation for agriculture is inadequate, the small and medium sector enterprises sector has not been taken care of. No methods for promoting employment have been made in the budget or empowerment of women. No special package has been provided for students who have been severely affected by the Covid pandemic, the CM further said.

The fiscal deficit is going beyond 6.5%, which is 3% above the target. No measures have been taken for checking inflation and enhancing production with imports increasing and exports declining. The salaried class was expecting income tax exemptions, but the budget disappointed them. Therefore, the budget is unattractive, said Narayanasamy.