CPM: Reduction in borrowings will hurt state

Tribune News Service

Shimla, February 1

The state CPM unit today said that in the Interim Budget presented by Finance Minister Nirmala Sitharaman, the Union Government had made a cut in borrowings for capital expenditure for states. This would worsen the economic condition of Himachal Pradesh, that was already facing economic distress.

CPM state secretary Dr Onkar Shad, in a press note issued here, stated that the Interim Budget showed that the Indian economy was in a poor condition. He added that the projected real GDP growth of 7.3 per cent for 2023-2024 in the Budget was imaginary.

He said that low Budget provisions had been made for agriculture, horticulture, animal husbandry, education, health, social welfare, women, children, Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) and urban development.

“Expenditure on schemes such as the Pradhan Mantri Awas Yojana, Pradhan Mantri Gram Sadak Yojana and the Poshan Abhiyan has been kept lower than the expenditure of 2022-2023,” he claimed. “The Centre’s concept of development is about making the rich richer while keeping the poor poorer,” he added.

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