Union Budget is patchy and lacks vision, says B Vinod Kumar

Vinod Kumar said Union Finance Minister Nirmala Sitharaman ignored the harsh realities of economy and sufferings of common man in respect of inflation, low growth and unemployment

Hyderabad: Telangana State Planning Board vice chairman B Vinod Kumar termed the union Budget 2023-24 ‘very patchy’ and ‘lacking vision’. He said in her last budget before the Lok Sabha elections in 2024, union Finance Minister Nirmala Sitharaman ignored the harsh realities of economy and sufferings of common man in respect of inflation, low growth and unemployment.

“Instead, the budget seems to adopt seven priorities like inclusive development, reaching the last mile, infrastructure and investment, unleashing the potential, green growth, youth power and financial sector, which ignore the dismal performance of today’s economy,” he said.

Reacting to the union Budget, Vinod Kumar said the budget did not address the current crisis in the country’s economy. He rubbished the union Minister’s claims that it was an inclusive budget. “The budget had not taken cognizance of States and union Territories concerns and had not involved the respective Finance Ministers in pre-budget consultations,” he said.

Further, he added that in a diverse country like India where States and union Territories, the development needs of each State and union Territory vary and the approach of “One Size Fits All” by the Central government is not appropriate. “The Budget 2023 is an escapist exercise and neglected the harsh economic realities of common man. It is an exercise in futility,” he said.