‘The budget doesn’t lead to strengthening of the economy, neither will it ensure social security and development,’ Pinarayi said.

Budget reflects Centres hostile attitude to Kerala says CM Pinarayi Vijayan
news Budget 2020 Saturday, February 01, 2020 - 18:55

The Union budget has ignored just demands made by the state of Kerala, said Chief Minister Pinarayi Vijayan.

“The Union Budget reflects the same attitude of ignoring the state, which was displayed when it suffered devastating losses due to floods in 2019. The Budget shows the same political attitude towards the state,” Pinarayi said in a statement. Pinarayi was pointing at the fact that the centre did not allot any money for Kerala for the floods in 2019.

“The budget that has recommendations for selling out Public Sector Units has not earmarked any allocation for PSUs  like Cochin Shipyard and Refinery, for their mere survival. The Centre that has consistently curtailed the state's share of Goods and Services Tax (GST), is also trying to take over the privileges and rights of the state in the field of agriculture as well. This is against federal principles,” his statement said.

Pinarayi said that the budget recommendation imposing 22 per cent tax and surcharge is precarious for Cooperative movements and financial institutions functioning under it. 

"Moving forward with this tax recommendation would destroy Cooperatives rather than nurturing them. The budget did not consider any of the memorandums submitted by Kerala with regard to Semi High speed corridor, Ankamaly-Sabari Railway line, GST compensation, enhancing the borrowing limit, raising subsidy of rubber, and an All India Institute of Medical Sciences for Kerala etc," he said.

Pinarayi also said that the decision to sell government stake in LIC indicates who the government's allegiance is to.  

"The budget doesn’t lead to strengthening of the economy, or to ensure social security and development. Instead, this budget would accelerated inflation and unemployment," Pinarayi said.

Also Read: Budget 2020: New 'optional' income tax slabs with reduced rates announced

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