Budget 2018: Chidambaram calls it a Jumla, Shah says it will give wings to the aspirations of the poor

NEW DELHI: Congress leader P Chidambaram today said Finance Minister Arun Jaitley had failed the fiscal consolidation test and the Budget proposals are a big let-down.

"I did not hear any measure to boost exports, as the government has run out of ideas. Finance Minister has imposed additional custom duties to restrict imports. The PM's speech at the Davos has been forgotten within a few days," Chidambaram said.

Former finance minister said that the Finance Minister's failure will have serious consequences for the economy.


"Farm sector stress will continue. Medical health care is a big jumla. Nothing in the Budget to boost private investment. No tax relief to the average tax payer," Chidambaram said.

Chidambaram also said the fiscal deficit limit of 3.2 per cent in 2017-18 had been breached and was estimated at 3.5 per cent.

Meanwhile, BJP president Amit Shah praised Finance Minister for announcing schemes for the farmers, the poor, dalits and tribals.

"The budget is in the spirit of Sabka Saath Sabka Vikas. It takes development to the poorest and most underprivileged classes " Amit Shah said.

"MSP of 1.5 times of production cost is a huge step towards realising Prime Minister Narendra Modi’s goal of doubling farmer income by 2022," Shah said.