Union budget hopeless, says Trinamool Congress

The Trinamool Congress on Monday dubbed the 2016-17 Union Budget as "hopeless" and "stereotype", and questioned the Narendra Modi government's transparency over foreign direct investment.

"This budget is neither constructive, nor creative. It is a stereotype and routine. We are left with no option but to call it a hopeless budget," the ruling party in West Bengal said in a statement posted on its official website.

"No hope for the industry, no hope for the farmers, no hope for the poor, no hope for the middle class, and no hope even for the Sensex."

The Trinamool also hit out at the Modi government over the issue of FDI.

"Why has the finance minister (Arun Jaitley) not mentioned the details of the changes in the FDI policy in his budget speech? It is shrouded in an annexure and opens up 100 percent FDI in many sectors. Why can't the government be transparent," the TMC asked.

"Lots of good prose in the budget, but where are the jobs? Where are the solutions? How will industry benefit? How will agriculture benefit? There are millions of hungry, young, unemployed youth yearning for jobs. Job creation has not been outlined."

The party also said there were no major tax reforms to benefit the middle class. "Lots of big words, no real big solutions," said the TMC, which had criticised the railway budget as a "big zero".