Government CMA reports 120 million Unemployed in month of Dec 2020 nothing done by government.
All core sectors of industries declined may be steel, cement, minning, showed defaltionary trends.
Kapil Sibal Qs Union budget funding
Union budget revenue collection decline 23%. Infra need planning but nation poor man needs its Government stimulus which is inherrently absent.
Mr. Sibal says,”The Finance Minister said the government’s policy is “spen, spen, spen” to revive the economy, but the truth is, the government does not have the money to spend, so it has borrowed, borrowed, borrowed.”
He says, “People are hungry for employment. You did not mention unemployment in the budget speech.”
Kapil Sibal of Congress congratulates the Finance Minister for presenting her third Budget. “The Minister spoke of self-reliant India and we all want that. But are we moving towards that? Are farmers, Dalits, minorities, MSME sector self-reliant? You will have to answer this question,” he says.
The Budget is a contextual exercise, Mr. Sibal says, adding, ‘It is in the context of the situation prevailing before it that you present the Budget. You have been in power for 6 years. No more excuses.”
He cites economic indicators before COVID-19, and asks, “can Indians be atma nirbhar after COVID-19?” “You have forgotten the people of India in this Budget.” How does this government justify what it has done, he asks, after citing indicators after COVID-19.
“You are establishing an oligarchic economic order,” he alleges. “In 2019, 1% of people owned 73% of assets, up from 58% within a year.” “There are 4 to 5 big boys in this country who own all assets. And one very big boy is everywhere- ports, gas distribution. I will not name him.” “The truth is that the plane you used to fly in, you have had to give an airport for it.”
Agrigarian society duped in US, EU on the pretext of contract farming and China to US is giving their farmers huge subsidies.
Our Govt is not assuring with enactment of law MSP farmers demand its Minimum support price assurance.
Privatisation of Agri- Mandis will bring farmers to close the form of begging with nothing to do and go anywhere.
Privatisation in form of oligarchy in crony capitalism is crucibling funding leads to nation growth on creamy layers and the masses poor to poorest culmination of economy collapsed as in Latin American nations.
State Bank of India’s Economic Research Department revises FY21 GDP estimates to -7.0%. Previously it estimated GDP at -7.4%.
GDP growth projected at 10.5 pc for next fiscal: RBI Guv