CHIEF MINISTER Shivraj Singh Chouhan has termed the Union Budget disappointing for Madhya Pradesh.
He, however, has welcomed certain proposals in the budget like short-term loan on seven per cent interest to the farmers, two per cent subsidy on previous loans and increasing old age pension up to Rs 200 per month.
Giving his reaction on the Union Budget the Chief Minister said no proposal had been made for compensation in cash for implementing VAT and not making special provision for Madhya Pradesh for inland water transport and roads.
No provision has been made for adequate loans to farmers in backward districts. The CM said that the states are getting loans from the National Small Savings Funds at the rate of 9.5 per cent, which is excessive as compared to the prevailing market rates. The Union Budget is also silent about this.
He said the backward area development fund was announced in even last year’s budget and this year too. The current budget also mentioned increase in the fund but it had not been decided as to how many districts would benefit by this fund in a year. Similarly, there was no mention about the incentives for increasing pulses production for balanced supplementary diet.
{{/usCountry}}He said the backward area development fund was announced in even last year’s budget and this year too. The current budget also mentioned increase in the fund but it had not been decided as to how many districts would benefit by this fund in a year. Similarly, there was no mention about the incentives for increasing pulses production for balanced supplementary diet.
{{/usCountry}}He said reduction in cold soft drinks would benefit only higher classes and multinational companies and would adversely hit the demand of traditional indigenous products.
There was relaxation for some states in central excise taxes but Madhya Pradesh had been overlooked, he lamented. He, however, welcomed the proposal for sanctioning Rs five crore to Kasturba Gandhi Trust Indore and proposals under consideration for Madhya Pradesh under the Jawaharlal Nehru Urban Renewal Mission and the announcement for mega power project in the State.