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There was no application of mind while preparing Budget 2018, says Sinha

The budget did not follow the FRBM (Fiscal Responsibility and Budgetary Management) Act as well, FM said

Press Trust of India  |  Kolkata 

Yashwant Sinha
BJP leader Yashwant Sinha arrives for a panel discussion on an analysis of Union Budget 2018-19, in Kolkata | Photo: PTI

Dissenting BJP leader and former Union finance minister on Tuesday criticised the presented by Arun Jaitley, saying there was no application of mind while preparing it.

Sinha, who was the finance minister in Atal Bihari Vajpayee's cabinet, said the did not keep in mind the global and domestic contexts under which it was being thought out.

"It seems that Finance Minister did not apply his mind to the speech. If that be so, then he must not have applied his mind while preparing the itself," he said at a seminar organised by the Calcutta Chamber of Commerce here.

Sinha said the had announced a number of schemes, particularly in the health sector, which were not properly thought out.

Pointing out that this was the last full of the present as Lok Sabha polls were due in 2019, he said the decision to recapitalise the banks was announced very late and the backlog of stalled projects was not eliminated.

Sinha also criticised the Finance Bill, saying the was making several amendments through it, which should not have been the case.

The did not follow the FRBM (Fiscal Responsibility and Budgetary Management) Act as well, he said.

Sinha also criticised Jaitley for being dismayed with the role of the GST Council.

First Published: Tue, February 06 2018. 22:33 IST
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