Chennai: DMK president M Karunanidhi on Friday described the budget as a mix of welcome and avoidable features, adding that its efficacy in improving the living standards of people and taking forward the economy will have to be seen.
Curiously Karunanidhi's statement comes after the union ministers belonging to DMK party - including Minister of State for Finance SS Palanimanickam - skipped the presentation of the budget by Finance Minister Pranab Mukherjee on the pretext of campaigning for the party for the March 18 by-poll in Sankarankoil assembly constituency in Tamil Nadu.
In a statement issued here, Karunanidhi said the income tax exemption limit of Rs.200,000 has belied the expectations of many who had hoped for a limit of Rs.300,000.
Karunanidhi also frowned upon the increase in customs duty to 30 percent on the common man's vehicle, the bicycle.
Referring to Mukherjee's disinvestment proposal, Karunanidhi said the decision is not a happy one and it also unacceptable.
Karunanidhi welcomed the 18 percent increase in allocation for agriculture sector and Scheduled Caste and Scheduled Tribe; allocation of Rs.5.75 trillion towards agri credit; writing off of Rs.3,884 crore of weaver's loan; equity investment scheme in the name of Rajiv Gandhi; setting up of a vaccine unit here; exempting film industry from service tax and the announcement of no fresh polio case last year.
Welcoming Mukherjee's announcement to provide the fertiliser and food subsidies directly to the beneficiaries, Karunanidhi said any reduction in subsidy to poor should be taken after considerable thought.
Karunanidhi said one should ponder how the budget proposals would achieve what President Pratibha Patil told the parliament Monday.
According to Karunanidhi, the study of projections and pronouncements made by Mukherjee during his budget speech last year and the actual outcome gives one some discomfort.
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