The Union Budget 2020-21 is a clear testimony of betrayal of the nation and of open servitude to Finance Capital, Corporate Business and the rich. It has given up the cause of planned nation building, of safe guarding the interests of workers, peasants and toiling masses, and has rabidly accelerated LPG policies further. The budget has consciously chosen to continue the path of Neo-classicalism espediting disinvestment, advancing it to higher levels by deciding to sell the remaining government shares of the IDBI and opening up LIC for sell out. It has deceptively resorted to do a rapid drive of privatization of railway in the name of helping the farmers by way of running 'Kissan Rail' trains with refrigerated vans on PPP mode. The budget proposal has shamelessly slashed corporate taxes to the lowest in the world, promised to amend Companies Act so that, offences including Corporate Social Responsibility (CSR) violations and non-filing of returns could be decriminalized and has watered down income tax regime to appease the income tax paying strata.
While severe crisis is gripping the country’s economy, there has been loud demand for strong governmental action of affirmative spending for the largest producing class that is, the peasantry; with emphasis to strong support given to the lowest strata of farmers and agriculture workers. Still, the budget kept cold silence regarding debt relief for farmers and implementation of crop procurement system. Instead, it chose to help agribusiness. It has purportedly decided to tax the cooperatives more. It shamelessly betrayed its class bias by claiming that the labour law amendments have made the country more investment friendly. The budget has refused to enhance minimum wage even. Its allocation for MGNREGA has dipped to 61,500 crores down from the revised estimate of Rs 71,000 crore for 2019-20. This budget has come up with a cruel project of converting the farmland that has gone barren into solar fields; making it necessary to convert more farmland barren in order to expand solar fields. Regarding agriculture it is like wartime coffin sales proposal.
In nutshell, the budget proposal has clearly shown the malicious intent of the regime run by communal fascists that while it brings about atrocious and divisive legislations such as CAA, its purported target is to accelerate the anti-people and anti-national economic policies that are designed and dictated by forces of Finance Capital. It even has utilised the alarming situation of present economic crisis to implement this negative project of integrating Indian economy with the exploitative system of Finance capital.
We call upon the working class, peasantry and true patriotic sections of the nation to rise unitedly against this distructive act of total sell out in the name of Union Budget, forcing a positive way to salvage the nation from the engulfing economic crisis and resulted disaster for crores of toiling people.