Aam Aadmi Party pin-points financial Budget (2013-2014) errors:Full Report

Aam Aadmi Party on Thursday alleged that the Budget presented by the finance minister(FM) P Chidambaram was a "clever attempt to mislead" public ahead of elections as it offered little remedy for the key problems facing the Indian economy.

Party pin-pointed some problems the Budget as follows:-

• AAP alleged that current crisis required the government to stimulate domestic investment by encouraging consumption from below; instead the FM remained focused on Foreign investors. 
•  In 2012-13 expenditure on agriculture and allied activities, rural development, irrigation and flood control and welfare of ST has actually gone down compared to the actual expenditure of the previous year.A similar comparison of the expenditure on health and education shows a marginal increase that barely keeps pace with inflation,
• Controlling inflation required expansion of PDS and reinforced subsidies on energy and focus on increasing agricultural output in pulses and oil-seeds; instead the government has relied on hope.

• Party also criticized the action of FM to impose an additional tax(10%) on the country's wealthiest(people with an annual income of more than 1 corore rupees ) According to party,since such wealthy people are limited, it would affect only 42,000 super rich who fall in the category and bring very small gains for the country.
   This small gain would be more than made up by the generous increase in the tax exemption, mostly for the well-offs and the corporates, the party alleged. 
  “On one hand, they say they have levied ten per cent surcharge on people earning more than Rs one crore annually. On the other, government has given huge tax benefits to such people. This is nothing but misleading people.” said  Yogendra Yadav (AAP,member).

Source:http://articles.timesofindia.indiatimes.com/2013-02-28/union-budget/37351098_1_aam-aadmi-party-aam-aadmi-indian-economy
http://www.firstpost.com/politics/budget-2013-is-a-clever-attempt-to-mislead-public-aam-aadmi-party-644192.html