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Biman Prasad criticizes the 2016 budget

November 16, 2015 12:21 am

Opposition MP Professor Biman Prasad has called the 2016 Budget ‘A Deceptive Budget of a confused government’.

Professor Biman was given 2 hours – as shadow Finance Minister to speak on the 2016 Budget in parliament today.

Attacking the various incentives, Prasad says the 2016 Budget is consistently inconsistent with government’s proposals, promises, objectives and targeted outputs.

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VAT is reduced for the rich, but the poorest people will pay more VAT. Last year the Government increased tax incentives for the tourism industry, now it has taken them away. Last year the Government increased duties on luxury items, now it has reduced them again. One year after vehicle imports were relaxed, they are now to be tightened.”

Prasad claims 5% economic growth is a very ordinary performance and that the government has been borrowing and spending to keep up economic growth.

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