In a scathing attack on the NDA government’s first union budget National Cooperative Union of India’s President Dr Chandra Pal Singh Yadav said that the idea in the slogan “sabka saath and sabka vikas” has been defeated by this budget.
If you analyze it deeper sabka saath and sabak vikas is nothing but cooperative spirit and we welcomed the idea very much. But there is nothing in this budget to realize this noble goal, Yadav said talking to Indian Cooperative on phone.
The budget talked of giving tax rebates to corporate but our repeated requests for income tax exemption for cooperative sector have once again gone unheeded. Corporate serves the interest of a few individuals while cooperatives serve the interest of the society, he clarified.
Chandra Pal said that he would raise the issue in Parliament as now he can do so by being the member of the Upper House. The benefit to corporate is pocketed by a few while sops to cooperative would have helped the masses, he added.
The minister says the urea price would not be increased and simultaneously the subsidies are also not being increased in the expected manner. Fertilizer cooperatives are hard pressed as amount to the tune of Rs 5000 crore is pending with the government, NCUI President who doubles as newly elected Kribhco Chairman said.
The budget has something for every sector except cooperative. There is no subsidy, no tax sop and no special effort to promote the cooperative movement, rued Chandra Pal.
