Opposition parties in Tamil Nadu, Friday launched a scathing attack on the AIADMK government over aspects such as rising debt burden and fiscal deficit in the budget.
"The budget has no use for the poor and common people and the government is not bothered about farmers," DMK president M K Stalin said.
Rather than being growth oriented, the financial statement was focused on debt servicing, he told reporters.
Dubbing the budget as "shadow," and not real, he said it was disappointing that there was "no announcement to generate employment opportunities," when there were one crore unemployed graduates who have registered themselves in exployment exchanges.
"Approximately there is a debt of abour Rs 4 lakh crore. There is, however, no announcement for revenue generation," the DMK chief said.
The fiscal management scenario was tantamout to facing a bad failure in view of the mounting government debt, revenue and fiscal deficits, he said.
During Chief Minsiter K Palaniswami's rule alone loans to the tune of Rs 1,45,064 has been secured pushing the fiscal situation to an "emergency" and putting Tamil Nadu's economic growth clock behind by 25 years, he alleged.
CPI (M) State Secretary K Balakrishnan alleged the budget showed that the state economy has become "bankrupt."
The top Marxist party leader said the budget was shorn of vision and schemes for growth. "The budget is a mere compilation of words...it offers no solution for shrinking job opportunities and farm distress."
While the "debt touched Rs 4 lakh crore...the government has not clarified as to how it is going to tackle the revene deficit of Rs 44,176 crore."