The CPI(M) has described the proposed Union Budget for 2020-21 as further burdening common man and said that the State was betrayed again.
Addressing a protest held by the party at Jagadamba Junction, party State secretariat member Ch. Narsinga Rao said the claim that ₹3.43 lakh crore additional revenue would be realised than the 2019-20 revised estimates was far from reality as the gross tax revenue fell by ₹2.97 lakh crore. To make up for the loss of ₹1.55 lakh crore, the Narendra Modi government was selling away government properties and companies.
He alleged that in 2019-20 the government assets worth ₹2.1 lakh crore were sold away. In the current year too, the RBI reserves of ₹90,000 crore were proposed to be used besides divestment in IDBI Bank and listing LIC in the share market, Mr. Narsinga Rao said.
Allocations for various welfare schemes, including MNREGS, were reduced, he said.
The budget made no allocation to make up for revenue deficit, Metro Rail in Visakhapatnam, Dugarajapatnam port or Kadapa steel plant or to implement the promises made in the bifurcation Act, he said adding there was no mention of Waltair Railway Division.
Party district secretary K. Lokanadham, city secretary B. Ganga Rao and other leaders participated.
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