State secretary of Communist Party of India (CPI) Chada Venkat Reddy has observed that the Union Budget for 2020-21 presented in Parliament on Saturday has failed to give any direction either to overcome the economic slowdown being faced by the country or to arrest the rising unemployment.
In his reaction to the budget, Mr. Reddy said the Centre’s announcement to sell its stake in the profit-making public sector undertaking Life Insurance Corporation of India (LIC) was like selling a milch buffalo. It appears that the Centre was on a spree to sell PSUs, irrespective of their performance.
The CPI leader criticised the Centre for not making even a mention of the reorganisation act promises to Telangana such as railway coach factory at Kazipet and national project status to one irrigation project. He also faulted the Centre for not linking the MGNREGS with agriculture.
