In a statement issued here, the politburo of the Communist Party of India (Marxist) said instead of addressing the root cause of the demand problem being faced by so many sectors of the economy and the lack of purchasing power for large sections of the population because of mass unemployment and shrinking wages, the BJP-led Centre is trying to stimulate the economy by giving tax cuts to a small minority with higher incomes even as expenditures are cut.
The Union Budget has neglected the challenges facing the Indian economy and not provided any relief to the poor reeling under the pressure of high inflation, stagnated income and rising unemployment, Left parties said on Saturday.
"While the Economic Survey shows the desperate plight of India's labour force, pointing out the decrease in earnings over the last five years, this budget with its emphasis on cutting government expenditures while giving concessions to the rich will only increase the huge inequalities in India," the CPI(M) ..
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