New Delhi, Feb. 29: The Left today welcomed several of the budget proposals but argued that the government could have done more.

“It’s an election budget. Chidambaram announced everything except the election date,” CPI leader Gurudas Dasgupta said.

Both the CPM and the CPI regretted that finance minister P. Chidambaram had announced no steps to address the price rise. They backed the increased funds for health and education but said the common minimum programme’s promises had not been kept.

The common minimum programme says 6 per cent of the GDP would be spent on education and 3 per cent on health, but the UPA government has failed to achieve this even in its “last budget”, the Left complained.

“Some of the issues we had raised have been addressed, but the budget falls short in terms of what the government should have done and could have done, considering that the revenue collection (has been) more than expected,” CPM leader Sitaram Yechury said.

The CPM welcomed the moves to write off farm loans, give more money to the Integrated Child Development Scheme, increase the short-term capital gains tax and abolish the ad valorem part of the excise duty on unbranded petrol and unbranded diesel.

It, however, added that the waiver would help only those farmers who had taken their loans from government-backed institutions. “The farmers who committed suicide had taken loans from moneylenders. Two-thirds of farmers take loans from moneylenders,” a party leader said.

Both the CPM and the CPI were disappointed that the government had ignored their demand for loans to farmers at 4 per cent interest. They welcomed the increased income-tax exemption limit.