New Delhi: Comparing the Indian economy to ‘a frog in boiling water’ which does not realise the danger it is in, the Biju Janata Dal (BJD) Monday emphasised upon the need for new investment programmes to bring back the economy from the turmoil.
While taking part in the general discussion on the Union budget for 2019-20, BJD MP Bhartruhari Mahtab said that this is not the best budget. He said the budget is presented at a time when the economic slowdown is worse, GDP growth is altering and global trade tensions are mounting.
“The Prime Minister has set the objective to make India a USD 5 trillion economy by 2024-25. This target seems to be huge. It is achievable provided that there are domestic savings and investment,” Mahtab said.
Taking a jibe at the Union government, Mahtab said, “There is no big bang as it was expected from the 303 members. We don’t find any big bang related to reforms as there were talks May 23 when the Bharatiya Janata Party won elections (sic),” Mahtab said.
The BJD legislator said that accelerating economic growth should be the agenda of the government. He said a small share has been given to manufacturing sector and public banks are under pressure for long time and ratio of NPA has increased. “It’s critically important to resolve this issue”, he said.
The Cuttack MP reiterated the state government’s demand of special focus state. As discussed in NITI Aayog meeting by the Chief Minister Naveen Patnaik, Mahtab said, the Union government should announce Odisha as a special focus state.
The senior BJD leader said a temporary special category status was discussed for the states which face natural calamities.
“Our Chief Minister has been asking the government to make Odisha special focus state. Those states, which face natural calamities every year, need special attention of the Union government,” Mahtab said.
Praising Odisha government’s efforts to reduce poverty in the state, Mahtab stated in the Lower House that in the last few years, four cyclones have pulled Odisha back to poverty. He also urged the government to revise coal royalty.