Ex -Union Minister P Chidambaram in a press conference said that the Economy, employment and Education sector were facing biggest challenge in the country. Moreover stating that in the Budget, on some important matters, there was no response at all.
Chidambaram said, “Unemployment is the biggest challenge facing the country. For a few dozen vacancies or a few thousand posts, millions of candidates apply and write an examination or appear for an Interview. According to CMIE, the all India unemployment rate is 9.2 per cent. The response of the government is too little and will have only little impact on the grave unemployment situation. The claim that the schemes announced by the FM will benefit 290 lakh persons is highly exaggerated.”
He added that the Inflation is the other major challenge. Mentioning the data he said, “WPI inflation is 3.4 per cent, CPI inflation is 5.1 per cent, and food inflation is 9.4 per cent.”
The Economic Survey (ES), Chidambaram said, has stated that the deflator for manufacturing has been assumed as 1.7 per cent. The deflator(s) assumed by the government have been severely criticized by several knowledgeable economists. Unless the puzzle of the ‘deflator’ is resolved, it is not possible to unquestionably accept the claimed GDP growth rate of 8.2 per cent in 2023-24. Besides, the GDP growth rate is no answer to the huge challenge of inflation.
Chidambaram stated, “The Economic Survey dismissed the issue of inflation in a few short sentences. The FM dismissed it in ten words in para 3 of her speech. We deplore the casual attitude of the government. And nothing in the Budget Speech gives us the confidence that the government will seriously tackle the issue of inflation.”
Chidambaram also talked about the depleting status of Education in the country stating that Education is widespread but of poor quality. He said, “Nearly one-half of the children are unable to read or write a simple text in any language and are numerically challenged. They are not fit for any skilled job. The central government must drive — and help — the states address these fundamental problems.”
He added, “The other issue concerning education is NEET and the scandal-ridden National Testing Agency. Several states have demanded that NEET should be scrapped and the states should be free to adopt their own methods of selecting candidates to various courses in medical education. No response. I did not hear the finance minister refer to school education. Yet, the government is stubbornly clinging to NEET which, you will recall, is an examination at the end of school education. Interestingly, against BE of Rs 1,16,417 crore on Education, the government spent only Rs 1,08,878.”
