মানুষের সম্পত্তি প্রটেক্ট করবে এই বিল। যতদিন বাঁচব মানুষের অধিকারের জন্য লড়াই করব। মানুষের গায়ে হাত দিলে সেই হাত কিভাবে সরিয়ে দিতে হয়, জানি। মানবিকতার সঙ্গেই লড়াই করি। এই বিল হামলা-হাঙ্গামাকারীদের স্তব্ধ করবে, তাই ওদের রাগ। এই বিল আগামিদিনে মানুষের অধিকার, জনগণের সম্পত্তি রক্ষা করবে। চিরকালের জন্য পথপ্রদর্শক হবে।
The Chambers of Commerce and Business Confederations lauded the Budget statement 2017-18 by state Finance minister Amit Mitra. The state Budget was placed at the Assembly on Friday. They believe that this Budget after demonetisation can help the state’s growth.
Talking on the Budget, Rakesh Shah, President, Bharat Chamber of Commerce, Kolkata, said it is a balanced Budget.
Chandra Sekhar Ghosh, President-Designate, The Bengal Chamber of Commerce and Industry, said he believes this Budget is a welfare oriented exercise in the aftermath of demonetisation.
Confederation of Indian Industry (CII) also welcomed the proposals to earmark Rs 50 crore for Small and Medium Enterprises and Rs 100 crore for farmers.
The State Finance Minister’s announcement on salary increase for Anganwadi workers and Asha workers reflect the State Government’s “sincere will” to improve health and education at the grassroots level, said Rupali Basu, Vice Chairperson, CII Bengal.
In a statement released by Merchants’ Chambers of Commerce and Industry (MCCI), they said: finance minister proposed a number of steps in relation to VAT which will be subsumed over GST, is put in place.
অর্থমন্ত্রীর রাজ্য বাজেটের (২০১৭-১৮) প্রশংসা করল শিল্পমহল। শুক্রবার বিধানসভায় রাজ্য বাজেট পেশ করেন অর্থমন্ত্রী অমিত মিত্র। তাদের বিশ্বাস নোটবাতিলের পর এই বাজেট রাজ্যের বৃদ্ধিতে অনেক সাহায্য করবে।
রাজ্য বাজেট সম্পর্কে কলকাতার ভারত চেম্বার অফ কমার্সের রাকেশ শাহ বলেন, এটা একটি সুষম ব্যালেন্সড বাজেট।
দ্য বেঙ্গল চেম্বার অফ কমার্স এবং ইন্ডাস্ট্রির ডেজিগনেটেড সভাপতি চন্দ্রশেখর ঘোষ বলেন, নোট বাতিলের পর এটি একটি কৌশলপূর্ণ বাজেট।
ক্ষুদ্র মাঝারি শিল্পের কারিগরদের জন্য ৫০ কোটি টাকা এবং কৃষকদের জন্য ১০০ কোটি টাকা বরাদ্দের প্রস্তাবকে স্বাগত জানিয়েছে কনফেডারেশন অফ ইন্ডিয়ান ইন্ডাস্ট্রি।
সি আই আই এর ভাইস চেয়ারপার্সন রূপালী বসু বলেন, অঙ্গনওয়াড়ি ও আশা কর্মীদের বেতন বৃদ্ধির কথা ঘোষণা করেছেন অর্থমন্ত্রী, অতএব সরকার স্বাস্থ্য ও শিক্ষার উন্নতিতে বিশেষ জোর দিচ্ছেন।
মার্চেন্ট চেম্বার অফ কমার্স অ্যান্ড ইন্ডাস্ট্রি একটি বিবৃতিতে তারা বলেন, অর্থমন্ত্রীর ভ্যাট সম্পর্কিত অনেকগুলি গুরুত্বপূর্ণ পদক্ষেপ নিয়েছেন যা জি এস টি চালু হলে তার অন্তর্ভুক্ত হবে।
Criticising the central government’s demonetisation move, West Bengal Finance Minister Dr Amit Mitra on Friday proposed Rs 50 crore to assist workers who lost their jobs due to the note ban.
Dr Mitra, in his budget presentation, also proposed a Rs 100 crore special fund for farmers and agricultural workers who suffered due to the demonetisation.
“There are many workers who have lost their jobs due to demonetisation and came back to the state. They have been suffering a lot. I am proposing to give one-time financial assistance of Rs 50,000 each to 50,000 jobless workers so that they could start their own venture. For this, I allocate a fund of Rs 50 crore in this budget,” Dr Mitra said.
“Farmers and agricultural workers, who depend on cooperative loans, have suffered a lot after implementation of note ban. I propose a Rs 100 crore special fund in order to alleviate their hardships,” he said.
Terming the note ban as an ‘unprecedented’ move, he said scrapping of higher value notes have not only impacted the small and medium enterprises but also destroyed the entire supply chain across sectors. “It adversely impacted the growth prospect of the country’s as well as states’ economy,” the Minister said.
Mamata Banerjee has been a vocal critic of note-ban and she was the first leader in the country to strongly protest against the move.
প্রধানমন্ত্রীর নোট বাতিলের সিদ্ধান্তের ধারাবাহিক বিরোধিতা যিনি করেছেন তিনি মমতা বন্দ্যোপাধ্যায়। বিভিন্ন রাজনৈতিক দলগুলি কখনও সামনে এসেছে, কখনও হতোদ্যম হয়ে পিছিয়ে গিয়েছে। কিন্তু মানুষের স্বার্থে লড়াই ছাড়েননি মুখ্যমন্ত্রী। আর তাই রাজ্য বাজেটে নোটবন্দিতে জর্জরিত মানুষের খানিকটা স্বস্তি আসতে পারে, এমন জল্পনা ছিলই। প্রত্যাশিতভাবেই তা পূরণ করলেন অর্থমন্ত্রী অমিত মিত্র।
এদিনের বাজেটের গোড়াতেই কেন্দ্রীয় নোট বাতিলের সিদ্ধান্তের কড়া সমালোচনা শোনা যায় অর্থমন্ত্রীর মুখে। স্বভাবসিদ্ধ নিচু গলাতেই তিনি জানিয়ে দেন, এই সিদ্ধান্ত রাজ্যের মানুষের উপর বজ্র্পাতের উপর নেমে এসেছে। গোদের উপর বিষফোড়ার মতো আছে পূর্বতন সরকারের রেখে যাওয়া বিপুল ঋণের ভার। সে সব সামলেই বাজেটে রাজ্যের মানুষকে নয়া দিশা দেখাতে বদ্ধপরিকর মমতা সরকার। আর তাই বেশ কয়েকটি অভিনব ঘোষণা পাওয়া গেল অর্থমন্ত্রীর থেকে।
কী কী ঘোষণা অর্থমন্ত্রীর?
১) নোটবন্দির জেরে কাজ হারিয়ে রাজ্যে ফিরে আসতে হয়েছে বহু দক্ষ কারিগরকে। তাঁদের সুবিধার জন্য পঞ্চাশ হাজার কারিগরকে এককালীন ৫০,০০০ টাকা করে দেওয়া হবে।
২) নোট বাতিলের জেরে মারাত্মক ক্ষতিগ্রস্ত হয়েছেন কৃষকরা। তাঁদের জন্য ১০০ কোটির তহবিল গঠন করা হয়েছে।
৩) নোটবন্দিতে ক্ষতিগ্রস্ত হয়েছেন ক্ষুদ্র ও ছোট ব্যবসায়ীরাও। তাঁদের জন্য গঠন করা হয়েছে ৫০ কোটির তহবিল। এছাড়া ভ্যাটের প্রাথমিক স্তর ১০ লক্ষ থেকে ২০ লক্ষ করা হয়েছে। যাঁদের বার্ষিক আয় ৫০ লক্ষ টাকা তাঁদের নূন্যতম ভ্যাটের আওতায় আনা হয়েছে।
Bengal Finance Minister Dr Amit Mitra slammed the Centre on the demonetisation issue during his speech while presenting the State Budget 2017.
Here is what he said:
Reacting on the State Budget 2017, Bengal Chief Minister Mamata Banerjee strongly protested one Centre’s move of Deomenetsation-Remonetisation.
Excerpts of her speech:
২০১৭-১৮ আর্থিক বছরের রাজ্য বাজেট পেশ করার সময় এদিন কড়া ভাষায় কেন্দ্রের নোট বাতিলের সমালোচনা করেন বাংলার অর্থমন্ত্রী অমিত মিত্র।
তাঁর বক্তব্যের কিছু অংশঃ
২০১৭-১৮ রাজ্য বাজেটের ওপর প্রতিক্রিয়া দেওয়ার সময় ডিমনিটাইজেশন-রিমনিটাইজেশনের (Demo-Remo) তীব্র প্রতিবাদ করেন মুখ্যমন্ত্রী মমতা বন্দ্যোপাধ্যায়।
তাঁর বক্তব্যের কিছু অংশঃ
Reacting on the Bengal Budget 2017-18, Chief Minister Mamata Banerjee today said that despite financial compulsions and the effect of demonetisation, no scheme in the social sector has been scrapped.
“Bengal Govt is a humane govt. We believe in social justice. We are always with the people,” the CM said.
She slammed the Left Front Government for the huge legacy of debt that the present government has inherited. She said: When Left Front was in power why did they not start Kanyashree, Sabuj Sathi, Khadya Sathi? Left Front did not follow fiscal discipline. There was no FRBM. We are paying debts that they incurred in 2006.”
“She added, “CPI(M) destroyed the economy of Bengal. Centre did not take any step to avoid govt from falling. Despite paying so much debt instalments we are carrying out massive developmental projects.”
The Bengal government said neither the UPA nor the current government at the Centre gave any debt moratorium to Bengal.
We have restructured govt departments. The number of departments is down to 52 from 63. PSUs have been merged and restructured. No one lost jobs. No of PSUs is down to 44 from 90,” she added.
She also targeted the BJP over demonetisation. She said that the Centre has reduced funding to the States. She maintained that Centre must trust State governments.
২০১৭-১৮ বাজেটকে বেস্ট বাজেট আখ্যা দিয়ে মুখ্যমন্ত্রী এদিন বলেন, নোট বাতিল এবং আর্থিক সমস্যা থাকা সত্ত্বেও আমারা আমাদের কোন সামাজিক প্রকল্প বাতিল করিনি।
মুখ্যমন্ত্রী বলেন, “বাংলার সরকার মানবিক সরকার। আমরা সামাজিক ন্যায়ে বিশ্বাসী। আমরা মানুষের সঙ্গে আছি”।
বাম সরকারের করে যাওয়া ঋণের বোঝারতীব্র সমালোচনা করে তিনি বলেন, সিপিএম যখন ক্ষমতায় ছিল তখন তারা কন্যাশ্রী, সবুজ সাথী, খাদ্য সাথী প্রকল্প কেন শুরু করেনি? ওরা FRBM ব্যবস্থার অনুসরণ করেনি। ২০০৬ সালে করা দেনা আমরা এখনও শোধ করে চলেছি”।
তিনি আরও বলেন, “সিপিএম বাংলার অর্থনীতিকে ধ্বংস করে দিয়েছে, কেন্দ্র তখন কোনরকম পদক্ষেপ নেয়নি। বাম সরকারের করে যাওয়া পাপের বোঝা আমরা বহন করছি। এত ঋণের বোঝা থাকা সত্ত্বেও উন্নয়নমূলক কাজ বন্ধ হয়নি। না কংগ্রেস না বর্তমান কেন্দ্রীয় সরকার কেউই বাংলার সরকারকে debt moratorium দেয়নি।”
মুখ্যমন্ত্রী বলেন, “আমরা সরকারি দপ্তরগুলি পুনর্গঠন করেছি। সরকারি দপ্তরের সংখ্যা ৬৩ থেকে কমে ৫২ হয়েছে। নিগমগুলির আমরা সংযুক্তিকরণ করছি, কেউ কর্মহীন হয়নি। নিগমের সংখ্যা ৯০ থেকে কমে ৪৪ হয়েছে”।
নোট বাতিল নিয়ে তিনি আবারও বিজেপি সরকারকে আক্রমণ করে তিনি বলেন, “রাজ্যকে টাকা দেওয়া বন্ধ করে দিয়েছে কেন্দ্র। কেন্দ্রের উচিত রাজ্যগুলির ওপর আস্থা রাখা”।
Stating that the ideas of Bengal Chief Minister Mamata Banerjee for development of the state are “interesting and bold”, British High Commissioner to India, Dominic Asquith, said: “Besides education and research, Britain is interested in investing in many other sectors in Bengal.”
Asquith met the Bengal Chief Minister at the State Secretariat, Nabanna, on Thursday and the meeting continued for around an hour.
It may be mentioned that UK Foreign Secretary Boris Johnson met the Bengal CM in January, a day ahead of the Bengal Global Business Summit and had assured collaboration with Bengal in education and research sector.
He said after the meeting: “The Chief Minister has many interesting and bold ideas. We want British companies to compete in every single area of the economy besides education or research.”
The Bengal Chief Minister is trying to build and develop the economy of the state and Britain is interested in developing the relationship with Bengal in all sectors including science, medicine, trade, research and education. Asquith reached Kolkata on Thursday afternoon and he has a series of programme till Sunday when he will be meeting Finance Minister Dr Amit Mitra.
Bengal Finance Minister Dr Amit Mitra presented the State Budget for 2017-18 at the Legislative Assembly today.
The Budget reflected the enormous effort put in by the Trinamool Congress Government to turn around a State left in ruins by the 34 years’ of Left Front rule. Despite being still in debt, and with no moratorium being provided by the Centre despite repeated requests, the State has made huge progress on all fronts.
For example, Dr Mitra said, “Tax collection has increased by 103% from 2010-11 to 2016-17”, which is a record among States.
After winning the 2016 Assembly election with a huge mandate, the developmental work in the State has continued apace.
HIGHLIGHTS OF BENGAL BUDGET 2017-18 SPEECH
Debt problem
Growth
New announcements
Fund
Taxation
GST
Settlement scheme
VAT
Planned Expenditure (PE)
Employment
আজ বিধানসভায় ২০১৭-১৮ আর্থিক বর্ষের বাজেট পেশ করলেন অর্থমন্ত্রী ডঃ অমিত মিত্র।
৩৪ বছরে বাম শাসন বাংলাকে ধ্বংস করার পর বাংলার উন্নয়নের কর্মযজ্ঞ প্রতিফলিত হয়েছে এই বাজেটে। বাম আমলে করা বিপুল ঋণের বোঝা মাথায় নিয়ে চলছে রাজ্য। বারবার অনুরোধ করা সত্ত্বেও কেন্দ্রীয় সরকার কোনও রকম সাহায্য করেনি রাজ্যকে। তাও রাজ্য সব দিক দিয়ে এগিয়ে চলেছে।
২০১৬ সালে বিপুল জনমতে পুনরায় সরকার গঠন করে মমতা বন্দ্যোপাধ্যায়। তারপর উন্নয়নের কাজে আরও গতি এসেছে। কেন্দ্রীয় সরকারের জনবিরোধী নোটবাতিলের সিদ্ধান্তে সারা দেশের অর্থনীতি ধুঁকছে। তা সত্ত্বেও তৃতীয় বিশ্ব বঙ্গ বাণিজ্য সম্মেলনে ২.৩৫ লক্ষ কোটি টাকার বিনিয়োগ যথেষ্ট আশা ব্যঞ্জক।
নোট বাতিল:
ঋণের বোঝা:
বৃদ্ধি:
নতুন ঘোষণা:
তহবিল:
কর ব্যবস্থা:
জিএসটি:
সেটেলমেন্ট স্কিম:
ভ্যাট:
পরিকল্পিত ব্যয়ঃ
কর্মসংস্থান:
গত আর্থিক বছরে ১৩.২৭ লক্ষ কর্মসংস্থান হয়েছে।
All through this first part of the Budget Session (February 1 – February 9), Trinamool’s Members of Parliament (MPs) highlighted the ill effects of demonetisation and raised their voices against the political vendetta being carried out by the Centre against the party.
In fact, in protest against demonetisation, the party’s MPs did not attend the first two days of Parliament.
The MPs, through a protest inside the Parliament complex, also showed solidarity with the Indian IT firms creating value globally, in response to the US Government’s order limiting the issuing of H1B visas. They also organised a dharna demanding state funded elections.
Suspension Notice in the Rajya Sabha
Leader of the Party in the Rajya Sabha, Derek O’Brien gave a notice under Rule 267 on political vendetta and stifling of the voice of the Opposition.
Chief Whip of the party in Rajya Sabha, Sukhendu Sekhar Roy slammed the Centre for the “witch hunt” against Trinamool Congress.
Question Hour in the Rajya Sabha
Md Nadimul Haque asked a question on the empowerment of rural women.
During his speech on the Motion of Thanks on the President’s Address in the Rajya Sabha, Derek O’Brien slammed the Centre on demonetisation, Digital India and political vendetta.
Special Mention in the Rajya Sabha
Vivek Gupta made a Special Mention regarding the inadequate number of toilets for girl students in schools in West Bengal.
Trinamool MPs protested inside the Parliament complex against the political vendetta by the Centre.
Zero Hour in the Rajya Sabha
Derek O’Brien demanded Parliament observes a minute’s silence for the unfortunate victims of demonetisation.
Zero Hour in the Lok Sabha
Leader of the Party in the Lok Sabha, Saugata Roy in the Lok Sabha intervened to oppose the introduction of Specified Bank Notes (Cessation of Liabilities) Bill, 2017.
Saugata Roy also raised the issue of misusing of CBI for political purposes by the Central Government, during which time BJP MPs disrupted the House, leading to the adjournment of the Lok Sabha.
Trinamool Congress MPs showed solidarity with the Indian IT firms creating value globally. The MPs gathered in front of Gandhi ji’s statue inside Parliament complex.
Zero Hour in the Rajya Sabha
Derek O’Brien spoke on securing the interests of Indian IT firms creating value globally.
Vivek Gupta demanded an investigation into the case of missing JNU student Najeeb.
Md Nadimul Haque’s Zero Hour mention honoured the glory of former sportspersons, which received support across the aisle.
Special Mention in the Rajya Sabha
Vivek Gupta made a Special Mention on the issue of federalism.
Motion of Thanks on the President’s Address in the Lok Sabha
Chief Whip of the party in the Lok Sabha, Kalyan Banerjee raised the issue of demonetisation and said that the country is facing a financial emergency.
Trinamool Congress MPs from both the Houses of the Parliament staged a dharna in front of Gandhi ji’s statue in the Parliament complex on the need for electoral reform and State funding of elections.
Zero Hour in the Rajya Sabha
Derek O’Brien informed the House that BJP leaders in Bengal are threatening Trinamool leaders.
Zero Hour in the Lok Sabha
Kalyan Banerjee raised the issue of threats to Trinamool leaders by BJP functionaries in Bengal.
Question Hour in the Rajya Sabha
Sukhendu Sekhar Roy questioned the Government on demonetisation.
Question Hour in the Lok Sabha
Ratna De Nag raised the issue of improvement of cold storages.
Specified Bank Notes (Cessation of Liabilities) Bill, 2017 in the Lok Sabha: Saugata Roy called the Ordinance (which this Bill will replace) as “unnecessary and uncalled for”.
Legislative Business
Tapas Mandal, in the Lok Sabha, spoke on The Payment of Wages (Amendment) Bill, 2017.
Trinamool Congress MPs from both the Houses of the Parliament staged a dharna outside Parliament House, protesting against demonetisation, which completed three months today.
Suspension Notice in the Rajya Sabha
Sukhendu Sekar Roy sought the suspension of the House to discuss the impact of three months of demonetisation.
Zero Hour in the Rajya Sabha
Dola Sen raised the issue of electoral reforms and state funding of elections.
Question Hour in the Rajya Sabha
Derek O’Brien raised the issue of online trolls. He wanted to know if the government is planning to issue an advisory for high Constitutional authorities, including the Prime Minister of India, who are following unknown people on the digital medium.
Ahamed Hassan Imran raised the issue of job losses in the manufacturing sector due to demonetisation.
Question Hour in the Lok Sabha
CM Jatua raised the issue of railway connectivity in the Sundarbans.
Aparupa Poddar asked a question about railway safety mechanisms.
Arpita Ghosh raised the issue of internet penetration in rural areas.
Idris Ali asked a supplementary question regarding Haj subsidy.
Legislative Business in Rajya Sabha
Dola Sen spoke on The Payment of Wages (Amendment) Bill, 2017.
Discussion on the Union Budget in the Lok Sabha
Saugata Roy spoke during a discussion on the Union Budget and called it conservative. He said the Government did not make any big announcements because it did not receive any windfall gains from demonetisation.
Motion of Thanks on the President’s Address in the Rajya Sabha
Trinamool Congress asked for one minute of silence in respect for the people who have died as result of the measures taken for demonetisation. Some ministers were giggling. Treasury benches showed no grace. Then Trinamool walked out.
During a discussion on the Union Budget, Kalyan Banerjee (Lok Sabha) and Sukhendu Sekhar Roy (Rajya Sabha) spoke on behalf of the party. Both of them cornered the government on the declining economy, lack of jobs, black money, demonetisation and failed promises of the government.
Special Mentions in Rajya Sabha
Derek O’Brien made a Special Mention on the lack of security in Aadhaar services. Nadimul Haque made a Special Mention on increasing trolling practices online.
Thus, during this Budget Session, Trinamool Congress raised issues of national importance like demonetisation and its effects as well as those related to political vendetta, be it the arrest of two of its MPs, including the Leader of the Party in the Lok Sabha, Sudip Bandyopadhyay or the threats to party functionaries by members of the BJP in Bengal.
During a discussion on the Union Budget, Kalyan Banerjee (Lok Sabha) and Sukhendu Sekhar Roy (Rajya Sabha) spoke on behalf of the party.
Both of them cornered the government on the declining economy, lack of jobs, black money, demonetisation and failed promises of the government.
Chief Whip of Trinamool in the Lok Sabha, Kalyan Banerjee said that India will muddle through another year of hopes belied and aspirations unfulfilled. He called the Budget controversial and said it does not provide any roadmap for the future.
He asked the government why the cost and ‘benefits’ of demonetisation were not being shared. He wanted to know from the Finance Minister how much black money has been receovered post demonetisation.
On the effect of demonetisation, Kalyan Banerjee said, “The supply chain of leather industry in Bengal is in shambles. So is jute, tea, textile, handloom and handicrafts. Fact remains that Moradabad, Ferozabad, Meerut known worldwide for their glass bangles and sports goods are in miserable shape with maximum units closed. The unorganised sector of India provides 80 percent of jobs and demonetisation has destroyed that.”
Accusing the govt of playing jugglery with words he stated that private sector investment has declined over the last three financial years. “Investors are ineligible or unwilling to borrow and banks are unable to lend. Therefore credit growth to all industries is at all time low and turned negative in October, 2016,” he added.
On government’s penchant for cashless society, he had to say: “This year there has been very good cultivation, but the farmers are not able to sell their crops due to non-availability of cash. You may speak about the cashless society, but you cannot change a 70 year old system with the stroke of a pen overnight. We support cashless, but not in one day or two days, it will take time. Our rural economy is based on cash flows, we cannot shut our eyes to the reality.”
He said demonetisation has destroyed the rural economy: “The Budget has given credit to farmers, which will never reach them because 92 percent villages have no bank in India. The government’s demonetisation policy have already destroyed the cooperative system by not providing them cash which is the mainstay of farmers for credit.”
Chief Whip of the party in Rajya Sabha, Sukhendu Sekhar Roy said the Budget speech is full of rhetoric and the figures of increase in allocation are deceptive. He said, “ Export has lost momentum. Budget has no word on how the situation can be combated. Nothing has been said on the mounting NPAs over the years.”
He added that people are tired of hearing the growth story. He cited that India accounts for 1 in 3 people living below international poverty line. 800 million lndians live on 1.8$ per day and we talk of growth figures. More than 60% of the wealth is in the hands of only 1% people.”
Puncturing the government’s claims on FDI he said it is alarming that FIIs are constantly selling in equity and fixed income market since November 8, 2016 (when demonetisation was announced). He accused the ruling party of knowing in advance about demonetisation; that is why they bought hundreds of acres of land across States in cash, he added.
“People are suffering due to demonetisation. But government has no answer as to how much black money has been recovered and how much fake currency has been seized,” SS Roy said. “Workers in informal sector, plantation labourers, small traders, MSME – all have been destroyed,” he added.
Sukhendu Sekhar Roy wanted to know from the Finance Minister under which provisions of law were limits of cash withdrawal put in place. He said while ATMs still do not have cash, the Finance Minister claims there was no cash crunch for a single day in the last three months.
Reminding the BJP of their electoral promise of doubling the income of farmers, he wanted to know how much profit farmers have made in the last 2.5 years. He also said the BJP’s promise of bringing back black money from abroad was a jumla.
On electoral reforms, SS Roy said that Trinamool has always demanded state funding of polls through Election Commission. He said the measures introduced by the Finance Minister (capping of donations at Rs 2000 and introduction of electoral bonds) would not serve any purpose and were aimed at helping big parties at the cost of smaller parties.
Respected Speaker Madam, we are opposing the speech of Budget 2017-2018. Our leader and the Hon’ble Chief Minister of West Bengal Mamata Banerjee gave her reaction on the Budget. I start my speech quoting her: “A controversial budget 2017 which is clueless, useless, baseless, mission less, action less. Heartless”.
Fortunately, I had the privilege to work with our Hon’ble Finance Minister in few matters as his junior. But I have never seen him as heartless as earlier which has been done in the Budget speech.
The Budget does not reflect any road map for the country or for the future. The present government has lost all credibility by reason of number of steps including demonetisation that affected public at large of this country.
There is jugglery of words and figures in the Budget. The biggest failure of the government is that the Budget is silent in respect of costs and benefits of demonetisation. The Hon’ble Finance Minister did not give any figure in the Budget speech on two points.
One is how much black money has been extinguished. Second is how much the exercise cost the nation. The Budget has neglected primary education, ICDS and nutrition projects. The Budget also did not speak that how much amount of black money is lying in foreign banks.
In other words there is not a single word about offshore accounts in the Budget. The Budget speech demonstrates a clear admission of the government that private investment is in the doldrums.
In 2015-16, the Government has created 1.5 lakh jobs which is far short from their promises of creating two crore jobs in a year. Gross fixed capital formation (GFCF) is a widely-used measure for accounting for private investment. According to the Economic Survey, growth of GFCF in financial year 2014 was 4.9 per cent; in financial year 2015 it was 3.9% and in financial year 2016 was – 0.2 per cent. This is how much it has come down.
Micro, small and medium enterprises (MSME) are the low-cost producers and job-creators. Demonetisation has forced nearly 80 per cent of MSMEs to close down. Most MSMEs are not companies. They are proprietorships or partnerships. From 5.97 lakh to 6.9 4 lakh companies file income tax returns, and amongst them, only 2.85 lakh make profits. Cutting the corporate tax rate for MSMEs from 30 per cent to 24 per cent will therefore benefit only 2.74 lakh MSMEs. If the taxable income is modest the benefits are also modest. It will do nothing to increase sales or create new jobs.
On the other hand, if excise duties or service tax were cut, it would have boosted demand and revived the many MSMEs that have shut down. Deputy Speaker Sir, almost 12 lakh power looms of Maharashtra have been closed down. The diamond industry in Gujarat, due to demonetisation, is in such a bad shape that Bengali diamond-cutters have been forced to return to their State (that is, West Bengal). Workers have returned from Gujarat, Kerala and Mumbai due to demonetisation and the industries have closed down.
The supply chain of leather industry in Bengal is in shambles. So is jute, tea, textile, handloom and handicrafts. Fact remains that Moradabad, Ferozabad, Meerut known worldwide for their glass bangles and sports goods are in miserable shape with maximum units closed.
The unorganised sector of India provides 80 percent of jobs and demonetisation has destroyed that. It is unfortunate Hon. Finance Minister that there is not a single sentence in your speech in respect of the unorganised sector; it fully establishes the Govt’s heartless attitude towards the unorganised sector itself.
The Budget has given credit to farmers, which will never reach them because 92 percent villages have no bank in India. The government’s demonetisation policy have already destroyed the cooperative system by not providing them cash which is the mainstay of farmers for credit.
Now the government is playing jugglery of words. While you have given some tax relief somewhere, you have quietly put some surcharges somewhere else. We can understand very well that when you are giving with one hand and taking away with the other also. It is shocking that when the NPAs of banks have reached Himalayan heights (Rs 6 lakh crore), the Budget has allocated only Rs 10,000 crore only for capitalisation of banks. This is really a cruel joke for the banking sector.
Investors are ineligible or unwilling to borrow and banks are unable to lend. Therefore credit growth to all industries is at all time low and turned negative in October, 2016. Let us look at the NPA situation of the Public Sector; let me give a few figures.
As on March 31, 2014, gross NPA was 4.5%. on March 31, 2015, it was 4.6%. On March 31, 2016, it was 7.8%. And on December 31, 2016 it was 9.1%. As on March 31, 2014, loan accounts that were performing have become Non-Performing Assets under this present government.
Budget 2017-18 has not given any benefit to people of any class of this country. There are only big words about the poor people, farmers, of people of remote areas. I also come from rural area and represent rural people.
This year there has been very good cultivation, but the farmers are not able to sell their crops due to non-availability of cash. You may speak about the cashless society, but you cannot change a 70 year old system with the stroke of a pen overnight. We support cashless, but not in one day or two days, it will take time. Our rural economy is based on cash flows, we cannot shut our eyes to the reality.
Therefore Deputy Speaker Sir, the Budget 2017-18 will be remembered for not extending benefits to the people of this country, and it will be remembered as a damage control Budget. India will muddle through another year hopes belied and aspirations unfulfilled.
With this I am ending my speech. Thank you Sir.
