Budget disappointing, inflationary: Chouhan

March 16th, 2012 - 6:31 pm ICT by IANS  

Bhopal, March 16 (IANS) Madhya Pradesh Chief Minister Shivraj Singh Chouhan Friday said the union budget was disappointing and would lead to further inflation.

He said the excise duty and service tax had been increased from 10 percent to 12 percent and this would increase prices of products and services, making people’s life miserable.

This has once again exposed the union government’s anti-poor face, he said.

“Due to policy-related uncertainty and lack of political willpower, growth rate has come down by 1.5 percent, which is frustrating. Decline in industrial growth rate is also a cause of concern. No significant measures have been proposed in the budget for this,” he said.

Chouhan said that the announcements made in the budget regarding agriculture, irrigation and roads were also very disappointing.

Insignificant exemption had been given in income tax, which will not much benefit the common people, he said.

However, Chouhan welcomed concessions in the excise duty on iron, energy and non-conventional energy sectors. He said the measures taken in the budget for the welfare of women and children were also welcome.

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