Chief Minister Virbhadra Singh has termed the Union budget 2014-15 presented today in the Lok Sabha as disappointing which was not upto the expectations.
Reacting on the Union Budget, he said that it was not growth oriented and the government failed to show how it would strengthen the Indian economy. Moreover, the budget found no mention for the effective steps to be taken up by the Union government to check the price rise.
Virbhadra Singh said that Himachal Pradesh should have got preference in the budget for organic farming, disaster management, and development of tourism circuit, extension of rail network and industrial package and funding on the pattern of north-eastern States. He said that nothing has been done to curtail the rising prices which were affecting the common man the most.
He said that the target of fiscal deficit of 4.1 percent has now increased to 4.5 percent which would mean more borrowings resulting in further increase in prices.
The Chief Minister doubted the adequacy of provision of Rs. 1000 crore made in the budget for One Rank One Pension Scheme. He said that this scheme was approved by the UPA Government and required higher level of funding. He also said that the increase in the Income Tax slab was marginal which would not give required relief to the tax payers.
He, however, welcomed the announcement of Indian Institute of Management (IIM) for Himachal Pradesh.