AIBEA General Secretary Criticizes Budget 2025 as ‘Very Disappointing’

The All India Bank Employees’ Association (AIBEA), represented by its General Secretary C.H. Venkatachalam, has expressed strong dissatisfaction with the recently announced Budget 2025. In a press release, Venkatachalam criticized the Budget for failing to address pressing issues such as unemployment, poverty, and inflation, calling it a “big disappointment.”

Venkatachalam highlighted the rising unemployment rate and the lack of measures to create proper jobs, particularly for educated youth. He described the government’s claims of GDP growth as benefiting only corporates while leaving the poor to suffer. He also expressed concern over increasing income disparities and the growing number of people living below the poverty line, despite the Budget’s claims of aiming for “zero poverty.”

The press release also pointed out the neglect of critical sectors such as agriculture and micro, small, and medium enterprises (MSMEs). Farmers’ longstanding demands for Minimum Support Price (MSP) based on the Swaminathan Committee’s recommendations remain unfulfilled. Additionally, the MSME sector, already struggling due to the impacts of demonetization and GST, received no relief or support in the Budget, which Venkatachalam warned could worsen unemployment further.

Concerns were also raised about insufficient allocations for essential sectors such as health, education, and rural employment schemes like MNREGA. The push for Public-Private Partnerships (PPP) and increased monetization targets were criticized as moves that could harm public sector entities, including public sector banks and insurance companies.