Hyderabad, Feb 29: Describing the 2016 Union Budget as rhetoric, YSR Congress has said it is disappointing for the State as it has no mention of special category status and other assurances given during the division of the state.
‘The Union Budget is highly disappointing for the State as it has no mention of special category status which was the assurance given in the State Reorganisation Act and the State too has failed to persuading its coalition partner on the issue,’ Party leader Rajendernath Reddy told reporters here on Monday.
The other figures presented the Union Finance Minister have been simply rhetoric and failed to impress the core sectors.
‘Though it was time and again mentioned that the focus of the budget is on agriculture and rural development there were no adequate allocations. There was no mention of hike in MSP, input subsidy and increasing the crop insurance to bring in more number of farmers under the insurance cover.
Only 40 % per cent of the farmers now have an insurance cover and nothing was mentioned about roping in more farmers to the safety net,’ he said.
The banking sector is bearing the brunt with increasing NPAs and no concrete plan was announced as to how the government intends to bring down the stressed assets.
In the manufacturing sector as well procedures need to be simplified and many other issues were just passed by as a formality.
‘The budget is disappointing overall, from the State’s point of view,’ he said.
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