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India’s general budget, is the government going to attract people?TAZAA News

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India’s Modi government has tried hard to woo people in its latest general budget ahead of next year’s general elections, experts say.

India's general budget, is the government going to attract people?
India’s general budget, is the government going to attract people?
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India’s Finance Minister Nirmala Sitharaman presented India’s general budget for the next fiscal year on Wednesday, February 1. This was his fifth budget in a row and he became the sixth finance minister of India to receive the honour. Former Prime Minister Manmohan Singh is also included in this list. The Hindu nationalist party BJP has tried to achieve several goals in this budget. April next year. This is the last full budget of the government before the general elections in May, so it is also very important for the BJP government. Considering the elections, the government has announced various discounts and benefits for the people.

What is the annual national budget of India?

In the budget, many opportunities have been given to specialists. For them, the income tax exemption limit has been increased by two million. The tax exemption limit for them has increased from five million to seven million.

In addition, the tax table has also changed. Sitharaman said that now an employee with an annual income of Rs 15,500 will get a tax benefit of Rs 52,500.

“Budget to fulfill the dreams of a developed India”

The finance minister said in his budget speech that the government will spend 24 billion dollars for the project of providing free food grains to poor families. The government also plans to increase affordable housing for the poor by 66 percent.

The budget has allocated $4.3 billion to help achieve the goal of a carbon-free environment by 2070. However, it is not clear how this money will be spent. 2.40 million soums have been allocated in the budget for railway infrastructure. Nirmala Seetha Raman said that so much money has never been allocated for railways till date.

Prime Minister Narendra Modi congratulated Nirmala Sitharaman, calling it a wonderful budget. He called it the first budget of “Amrit Kaal” (cycle of life) and said: “It is the budget that lays the foundation for the realization of the dreams of a developed India.”

He further said, “the budget has given priority to the deprived sections and it will fulfill the aspirations of the developed society, farmers and the middle class.”

Disappointing budget, opposition

The opposition Congress party called the budget disappointing. K Suresh, chief whip of the party in Parliament, said, “The schemes announced in the budget are just eye candy. He has done the same in previous years’ budget. This time the budget is presented keeping in mind the 2024 elections.

Delhi Chief Minister and Aam Aadmi Party convener Arvind Kejriwal said, “There is no relief from inflation in the budget. On the contrary, this budget will lead to an increase in inflation. There is no concrete plan to eliminate unemployment. In the budget, the education fund has been reduced to 2.5 percent. , which is unfortunate.The amount for health was also reduced from 2.2% to 1.98%.

But BJP Parliamentary Minister Prahlad Joshi said that instead of being unhappy, the opposition should show “great heart” for the country’s development. He said that this budget is friendly to the poor and the middle classes. Economists have expressed different reactions to the budget.

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