Sharad Yadav slams 'hollow' budget

New Delhi, Feb 29: Slamming the budget as "hollow", JD(U) chief Sharad Yadav on Monday, Feb 29 said it provided no relief to tax-paying employees and an increase in the service tax will put additional burden on the common man "reeling" under price rise.

"It is a completely hollow budget without any direction. An increase in the service tax again this year will put pressure on the common and middle class families. "People were already reeling under the pressure of price rise and further increase in service tax will disturb the budget of every common family, especially middle class families who have fixed income," he said in a statement.

There has been no new relief in the income tax rebate for service class people, he said. Yadav also disapproved of allowing 100 per cent FDI in food processing industries, saying the domestic industry was already facing stiff competition.

He said people of Bihar had a lot of expectations from this budget like a special package for the state and felt let down.

JD(U) leader K C Tyagi also criticised the budget for its lack of roadmaps for the agriculture or rural sectors. "There is neither a roadmap for irrigation nor a Krishi Bima Yojna," he said, adding that there is 55 per cent non-irrigated land in the country.

PTI