Former Prime Minister Dr Manmohan Singh, who is also reputed economist, has finally expressed his reactions on the general budget.
Speaking on the budget, Manmohan said that the promise of doubling the income of farmers is impossible till 2022. As long as the growth rate of agriculture sector does not reach 12 percent, the promise of resolving the farmer issues is hollow.
He said he does not think there will be any electoral benefit from this budget but there are many financial messs in it which are necessary to go through. The losses in the government’s treasury have increased but it would be interesting to see how the Modi government fulfills its big promises.
Earlier too, Dr Manmohan Singh had made a big statement about the demonetisation, in which he had said that because of the demonetisation there will be a decline in GDP and that exactly happened.
If you talk about Dr Manmohan Singh’s experience, his economic remarks are always right and if this happens, then this budget will prove to be the biggest fraud with the farmers.
Finance Minister Arun Jaitley had said in the Budget that the government aims to double the income of farmers by 2022 and has declared minimum support price of one and a half times more on the cost of production in Rabi crops.