The Hindu : Budget silent on job creation

Online edition of India's National Newspaper
Wednesday, Feb 04, 2004

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Budget silent on job creation - AITUC

By Our Staff Correspondent

NEW DELHI, FEB. 3. The All India Trade Union Congress (AITUC) has described the interim budget as a statement of intents as nothing concrete had been said in it for eradicating poverty and unemployment.

"It is a political statement that has been crafted with a view to playing to the gallery keeping in mind the ensuing elections,'' a press release issued by AITUC said here today. With the employment situation becoming grimmer by the day and the poverty rate stagnating at 30 per cent, the sops announced to cover additional 2.5 crore below poverty line (BPL) families is an election stunt. There is no provision in the interim budget to create employment or to revive the sick industries, the press release said.

The meagre sops of interest rate reduction for loans for tea growers is miserably inadequate as with an amount of Rs. 2 lakhs tea gardens cannot be revived. Merger of 50 per cent of dearness allowance falls short of recommendations of the Fifth Central Pay Commission and no provision has been made to pay more than Rs. 2,000 crore statutory dues of the public sector undertaking (PSU) workers.

The interim budget also does not provide for any Government contribution to the much-hyped Social Security Scheme for the unorganised sector, the statement said.

Similarly, the concessions announced for infrastructure building will only benefit the big monopolies and contractors. No additional funds or concessions have been announced for social sector infrastructure, AITUC said.

A somewhat similar reaction has come from the Centre of Indian Trade Union (CITU) that has said that the interim Budget was more directed to the voters in the country than the question of improvement in the condition of the people.

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