Priyank Kharge slams 'Modinomics', says Budget unlikely to bring relief

Priyank Kharge stated that the Centre's policies have led to high unemployment, closure of Small and Medium Enterprises and Micro, Small and Medium Enterprises and farmers' protests

Karnataka Minister Priyank Kharge has expressed disappointment with the Central government's economic policies, terming them as 'Modinomics'.

He stated that the Centre's policies have led to high unemployment, closure of Small and Medium Enterprises and Micro, Small and Medium Enterprises and farmers' protests. Kharge also criticized the government's flagship initiatives, such as Make in India, Skill India, and Digital India, saying they have failed to deliver.

"Personally, I have zero expectations from this budget. We have seen over 10 years of Modiji's masterstroke, 'Modinomics'. And what has that led to? Highest unemployment, closure of SMEs and MSMEs, farmers protesting right at the doorstep of the parliament, start-ups have failed to take up, Make in India, Skill India and Digital India, all have remained on paper and just mere slogans," he said. 

He further expressed dissatisfaction with the Centre's treatment of Karnataka, citing the State's voting record in favour of the BJP. Kharge accused the Centre of neglecting Karnataka's interests, particularly in terms of tax devolution and sharing.  ALSO READ: From new slabs to crypto tax: 10 key tax reforms in recent Union Budgets

"What is the FDI right now, zero, just last month, more than nine billion dollars were withdrawn... (Union Finance Minister) Nirmala Sitharaman, even for courtesy, because the people of Karnataka have voted for her twice, at least that courtesy also has not been shown towards Karnataka, neither in the devolution of taxes, nor in the right share of taxes, and we are suffering because of 'Modinomics'..," he said.

Union Finance Minister Nirmala Sitharaman is set to present the Union Budget 2025, her eight consecutive Budget at 11 am in Lok Sabha today. Early this morning she arrived at the North Block, which houses the Ministry of Finance, ahead of the presentation of Budget in Parliament.

The budget speech will outline the government's fiscal policies, revenue and expenditure proposals, taxation reforms, and other significant announcements.

Meanwhile, the Economic Survey tabled in Parliament on Friday projected India's economy to grow between 6.3 per cent and 6.8 per cent in the next financial year 2025-26.