Budget just a labyrinth of data: MP CM

Terming the Union Budget "disappointing" and a "labyrinth of data", Madhya Pradesh Chief Minister Kamal Nath on Saturday said it lacked a plan to deal with the economic slowdown and inflation.

Nath said the budget, presented by Finance Minister Nirmala Sitharaman on Saturday morning, had nothing for farmers, unemployed youth, the poor and women.

"The finance minister delivered a long budget speech but it was completely a labyrinth of data, disappointing and selling dreams. There is nothing for villages, poor, youth, employment and security of the women," Nath said in a series of tweets in Hindi.

"As always, hollow dreams of doubling the income of farmers has been offered in the budget. Many old schemes have been revamped and reintroduced," he said.

The budget lacks a roadmap for development and progress, as well as a plan to curb the economic slowdown and inflation, Nath said, adding that the rural population was "completely ignored".

"A reduction of Rs 11,556 crore in the share of Central taxes to the state has been done in the revised estimate. This reduction (is effectively) Rs 14,233 crore after including the previous deduction of 2,677 crore. This is against the interests of the state," Nath said in another tweet.

However, former chief minister and senior BJP leader Shivraj Singh Chouhan hailed the Budget proposals.

"I congratulate the Finance Minister for presenting an all-inclusive and visionary budget which lays down the roadmap for achieving our goal of becoming a USD 5 trillion economy by 2025. Our philosophy of 'antyodaya' (upliftment of the weakest) is at the core of the provisions announced in the budget," he said.

Chouhan said the proposals would provide a boost to consumption, investments and infrastructure creation, which in turn will lead to all-round development of all sectors and regions of the country.

He welcomed the reduction in personal income tax and said it would provide relief to honest taxpayers, simplify the tax regime and leave more money in the hands of the individual, which would give a boost to consumption.

Chouhan also praised the budget for increasing bank deposit insurance cover from Rs 1 lakh to Rs 5 lakh.