| "Allocation to the social sectors in the 2005-06 Budget was much less than what it deserved. The Finance Minister's proclamation of 'assault on poverty' definitely inspires, but he has allotted only half the money. He should have found more funds for social sectors," he said, while speaking on 'Budget "� What's in Store for the Common Man' at the Loyola Institute of Business Administration here. |
| "Though his proclamation was right, he has not taken the right step for the right results," he said, adding that the Finance Minister tried to be different from his predecessors, however, more funds should have been provided for the agriculture and irrigation sectors, he said. |
| "People, who have more money, are not taxed and if the tax GDP ratio is abysmally low, how will they mobilise more money?" asked Gupta. |
| The tax GDP ratio in the country should go up and people who have more money should be taxed, for creating more jobs and for eliminating hunger, he said. |
| Criticising the new income tax rates, he said it was 'against morality' and not equitable. He also came down on the FDI in retail and mining and the government's plans to invest pension funds in the stock markets. |
| Gupta said that the reforms have benefited only the rich and super rich. "India was at the 127th position in the human development index and is still afflicted with the problems of poverty, hunger and unemployment after five decades of Independence." |
| "If the tax system, that was prevalent in 1990, had been enforced, India would have generated an additional Rs 30,000 crore," Gupta said, quoting an economist's report. Comparing India with China, he said that there was no social security in India, while in China, more jobs are being created and there was no death due to hunger or poverty. |
| "The people's mandate for the government at the Centre was not only for 'secularism', but also for providing basic needs like food, shelter, safe drinking water and jobs," he said. |
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