Government of FDI, by FDI and for FDI: Mamata Banerjee
"The only positive sign established by the two budgets presented by the new government is it has become a government of FDI, by FDI and for FDI. Already, there is FDI in retail. Now FDI has been increased to 49 per cent in defence and insurance sectors. It is really shocking to see an important scheme like Beti Bachao, Beti Padao started with only Rs 100 crore. Even though West Bengal has tremendous potential for textiles, it has not found a place among the six new textile clusters announced in the Budget. The Budget is visionless, missionless and actionless from the angle of the common people."
"Jaitley has tried to emulate PM Modi by trying to sell dreams to the people. He has made big promises and announced large projects, while ignoring the common man. He has made small allocations for various programmes for the poor and farmers. He has allocated Rs 200 crore for the installation of Sardar Vallabhabai Patel's statue but set aside just Rs 100 crore each for the Beti Bachao, Beti Padao and rural employment projects. What is the priority of the government? Is it rural development or Patel's statue? The finance minister has ignored agriculture and rural infrastructure by allocating just Rs 100 crore for these."
"The Budget is very disappointing. The government talked a lot about youth, agriculture and poverty, but failed to deliver. Its allocation for agriculture is next to nothing...there is neither mention of nor concern for farm labourers. They must be brought under banking and insurance coverage. The finance minister spoke at length about power, but allocated just Rs 500 crore for round-the-clock power. Is this a joke? At least a Rs 50,000-crore investment is needed in this area. This Budget has nothing for rural development. Bihar has been neglected. It seems like the finance minister was busy building castles in the air."
"The Budget will give new stimulus to the Indian economy that will start a new era of development in the country... the schemes and proposals in the Budget are also an indication that the Narendra Modi government has started the exercise to take action on the commitments the BJP had made in its election manifesto. The relaxation in the income tax is a big sop announced as the common man has been waiting for it for long time. The announcement on increasing royalty on mineral resources and encouraging investment in the mining sector help Chhattisgarh, as the state had been endowed with rich minerals."
"The Budget is a very responsible document that has placed fiscal prudence at the forefront and, at the same time, addressed the heightened expectations from the new government. It's a forward-looking exercise in positivity. A clear fiscal road map to contain the fiscal deficit has been provided. Many of the announcements made in the President's Address have been given concrete shape. The proposals relating to permitting FDI need to be approached with caution. The proposal to permit manufacturing entities set up with FDI to sell their products through retail should not extend to permitting FDI in retail."