Budget a burden on the common man: Narendra Modi

CM Narendra Modi on Friday gave thumbs down to the Union Budget for 2012-13 saying the aam aadmi (common man) was missing from it.

"The Budget offers no solution to corruption, inflation and unemployment, which are the burning issues of the country and affect the common man the most," Modi said.

The CM said political instability of Congress-led UPA government was reflected in the budget. He said budget had proposed fresh taxes of Rs40,000 crore on citizens, and pointed out that the railway budget had also proposed a similar burden on the common man.

Modi criticised the UPA government for the 2% increase in excise duty and service tax rates. He said that the hike in service tax would have an adverse impact on tourism sector and job creation. He also said women had been ignored in the budget.

According to CM, instead of taking harsh steps for fiscal discipline, the Centre has provided an example of financial mismanagement. He said fiscal deficit had increased to 5.9% as against original estimate of 4.6%, and said the deficit was pegged at 5.1% even for next year.

"The market borrowing of Centre has gone up from Rs3.53 lakh crore to Rs4.79 lakh crore," said Modi. He alleged that the budget totally neglected agricultural development and farm-oriented economy. According to the CM, budget would only contribute in making situation from bad to worse.