Bank staff union to protest against Budget

The Bank Employees Federation of India has called for a nationwide protest on March 6 against the ‘pro-rich and anti-people’ Union Budget. A BEFI statement said the subsidies for the poor and marginal people allocated in the Budget had come down from 2.1 per cent to 1.7 per cent of GDP. The revenue loss amounting to ₹5.89 trillion crore due to tax concessions given to the rich was more than the actual fiscal deficit of ₹5.55 trillion crore. The economy was suffering due to the weight of the subsidies to the rich and not due to the subsidies to the poor.