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It appears to be a
technical jugglery and we will have to see what comes out of it in real terms."
He said there is also nothing on the huge non-performing assets of banks or on black-money and there is no taxation of the super-rich and only a surcharge has been introduced.
Former Finance Minister and BJP leader Yashwant Sinha said Chidambaram has juggled with numbers and direct and indirect tax proposals put forth to add about Rs 18,000 crore revenue will further fuel price rise.
"It is a jugglery of numbers that Finance Minister P Chidambaram has done in his budget to show a reduced fiscal deficit for this year and the next year.... The additional tax proposals will add to the rising prices and will further hit the common man," said Sinha.
Taking a dig, he said Chidambaram has criticised his predecessor Pranab Mukherjee, who is now the President, and said "he deserves a better treatment."
BJP leader Murli Manohar Joshi said, "It is not a Finance Minister's budget. It's an accountant's budget."
JD-U leader Sharad Yadav said there is no relief to farmers, middle class and workers. "This budget has failed to address all the ills afflicting the country. No tax has been imposed on malls and hotels which consume diesel. Had this been done, famers would have got subsidy."
Information and Broadcasting Minister Manish Tewari, however, said that the prudent, productive and progressive budget would boost growth.
"The three P's of FM's budget - prudent , productive & progressive. It would boost growth and augment equity- UPA's guiding philosophy," the I&B minister tweeted.
Claiming that the budget has failed to chart a roadmap to encourage key sectors like infrastructure, power and manufacturing of the economy which was going through a very difficult phase, BJP spokesman Ravi Shankar Prasad said the UPA government failed to come out with any concrete steps to rebound the economy.
"In the entire budget, there is no big picture as to how in the 10th year of the government you are going to help the growth in the key infrastructure sector," Prasad said.
Critical of government's handling of the economy, he said the Finance Minister even failed to come out with measures to revive the manufacturing, agricultural and power sectors.
"All the key sectors are going through a difficult phase. But the response was completely missing. The whole budget does not give encouragement to any of the key sectors," he said.