Chidambaram Criticizes Budget 2024-25 as Catering to the Wealthy

Senior Congress leader P Chidambaram criticized Union Budget 2024-25 for favoring the wealthy with tax proposals while ignoring broader economic measures. He highlighted the issues of deportation from the US, called for Bharat Ratna for Manmohan Singh, and challenged the projected tax revenue growth as "magic, not mathematics."

In an intense discussion on the Union Budget 2024-25 in the Rajya Sabha, former Finance Minister P Chidambaram targeted the government's tax proposals, arguing they disproportionately benefit the affluent. He highlighted that among the 3.2 crore income taxpayers in India, many file returns but do not actually pay taxes.

Chidambaram questioned the absence of the Bharat Ratna for former Prime Minister Manmohan Singh and criticized the Ministry of External Affairs for its handling of deportations of Indian nationals from the US. He also alleged that the budget lacked philosophy and policy direction, focusing merely on political gains.

Opposition leaders in Lok Sabha echoed Chidambaram's concerns, while BJP members defended the budget as a step towards a developed India. Chidambaram suggested alternative economic measures such as raising GST rates, MGNREGA wages, and reducing fuel taxes to benefit a wider populace, claiming the budget served the rich's interests.