There is complete mismatch between the Budget speech and the Economic Survey: P Chidambaram

While every other section of the society was actively questioning the Narendra Modi dispensation on various issues, former Union Finance Minister P Chidambaram on Monday has asked influential industry bodies to articulate their concerns on government policies.

Chidambaram, while analysing the budget proposals at an event organised by the Southern India Chamber of Commerce and Industry (SICCI), said that the annual exercise 'lacked narrative' and accused the government of still being in denial on economic crisis.

“The budget was so lacklustre that its contents have disappeared from the front page of newspapers and television channels. It is like a movie bombing after its first show,” the senior Congress leader remarked.

“The Finance Minister had done nothing to address issues ailing the economy. You (chambers and industry bodies) are not speaking enough. If academicians, economists, students, even women and homemakers can come out and make their voices heard why can't you speak and voice your concern? What is it that they can do to you (if you voice concerns). Speak up,” Chidambaram told industry leaders.

The former Minister said that there was a 'complete mismatch' between the budget speech and the Economic survey. He accused Finance Minister Nirmala Sitharaman of not listening to the Chief Economic Advisor.

The senior Congress leader also faulted the Finance Minister for not putting money into the hands of the people by allocating more funds to Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) and Prime Minister Kisan Yojana that could have stimulated demand.

“More funds to MGNREGA and PM Kisan Yojana would have put money in the pockets of the people who would have spent it instantly,” Chidambaram said, adding that the government hasn't done anything to stimulate demand and attract new investments.

“We have a very ill patient and a rather incompetent doctor, and I presume we will go through a very difficult time in 2020-2021. I expected these rather incompetent managers to change their behaviour in the face of a crisis. But they continue to be in denial and that is my biggest complaint,” Chidambaram said.