Budget 2018: Arun Jaitley fails fiscal consolidation test, says Chidambaram

The Congress on Thursday slammed Finance Minister Arun Jaitley as soon he presented the Union Budget 2018 .Reacting to it, former Finance Minister and Congress leader P Chidambaram said,"Jaitley fails fiscal consolidation test, this failure will have serious consequences."

The former finance minister said the fiscal deficit limit of 3.2 per cent in 2017-18 had been breached and was estimated at 3.5 per cent.

"The finance minister fails the fiscal consolidation test and this failure will have serious consequences," Chidambaram told soon after the finance minister completed his budget speech.

Another Congress leader Manish Tewari also criticised the Budget 2018 saying,"The govt has attempted to pay lip service to farmers and to other marginalised sections of society but it is a classical case of too less and completely at the inappropriate time."

Earlier in the day, Finance Minister Arun Jaitley presented Union Budget 2018-19 in Parliament.

This was last full-fledged budget of the Narendra odi-led government and the first post the rollout of the Goods and Services Tax (GST).

OneIndia News