Shashi Tharoor critiques Nirmala Sitharaman's Interim Budget 2024 address

PTC News Desk: On Thursday, Congress MP Shashi Tharoor criticised Finance Minister Nirmala Sitharaman's Interim Budget speech, characterising it as "vague" and utilising "rhetorical language."

Tharoor remarked that it was one of the shortest budget speeches on record, emphasising the absence of concrete figures in Sitharaman's address. He expressed disappointment, stating that the speech lacked substance, relied on generalities, and did not address the specific problems of the economy.

"It was one of the shortest speeches on record in the Union Budget. Not very much came out of it. As usual, a lot of rhetorical language, very little concrete on implementation. She talked about foreign investment without acknowledging that investment has come down significantly," Tharoor claimed. According to Tharoor, the budget speech was very disappointing, emphasising the vague language used, such as 'confidence' and 'hope,' and the absence of specific figures.

Samajwadi Party chief Akhilesh Yadav deemed this the Narendra Modi government's farewell budget. He criticized the government for its record over the past ten years, labeling it a "shameful record of governance."

"If any budget is not aimed at development, if any budget is not for the people, then it is a waste. The BJP government has made a shameful record of governance over the last ten years, which will never be broken because a positive government will soon come. This is BJP's farewell budget," he stated.

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Congress MP Manish Tewari expressed concern about the budget deficit, describing it as worrying. He pointed out that the budget deficit of Rs 18 lakh crores indicated that the government is borrowing for its expenditure, and he predicted that this number would only increase next year. Nirmala Sitharaman, in her budget speech, declared that the rates for direct and indirect taxes, including import duties, will remain the same. She highlighted the fiscal deficit improvement to 5.8% of GDP, as per the revised estimate, despite moderation in nominal growth estimates.

Sitharaman emphasised the importance of foreign direct investment (FDI) in developing India, noting that FDI inflow from 2014 to 2023 was ₹596 billion US dollars, marking a golden era. She mentioned ongoing negotiations for bilateral investment treaties with foreign partners to sustain FDI. In conclusion, Sitharaman announced that the full budget in July would present a detailed roadmap for "our pursuit of Viksit Bharat."

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(Inputs from agencies)

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