State finance minister Asim Dasgupta said while the Budget includes significant measures such as waiver of agricultural loans and increase in budgetary provisions for education and public health, “there is something lacking in the overall social direction of the Budget”.

In a statement issued to the media, Dasgupta said: “In the overall approach of this Budget, there is reference primarily to the growth of gross domestic product (GDP), but no specific mention has been made of the need for employment generation.”

He added, “This is a matter of concern. According to the National Sample Survey data, despite growth, there has been an alarming increase in the incidence of unemployment at the national level by about 87 lakh between 1999-2000 and 2004-05.”

While the waiver of loans will relieve farmers from some burden, the Budget doesn’t specify the sharing of subsequent financial burden between the Union Government and banks, Dasgupta further said.

He also observed that the expenditure on education and health as proposed in the Budget are not as desirable “Even with the present budgetary proposals, the expenditure on both primary health and education are below one per cent of the GDP,” he said.