Budget: Nothing for salaried class, says disappointed common man Industry lobby bodies hail it, local traders cautious
HUGE LET DOWN The budget has disappointed the salaried class that was expecting a cut in the income tax rates Now people have started understanding mutual funds and were encouraged to make small savings, but they will be discouraged.
USHA MAHESHWARI, freelance content writer
It was a “disappointing” budget for the common man in Rajasthan.
For the salaried class, the budget was a disappointment as people were expecting changes in the income tax rates, but only a standard deduction of Rs 40,000 was proposed for transport and medical reimbursement.
Satish Totla, a private employee said post demonetization and GST, the central government has been facing a financial crunch, which clearly reflects in the budget.
“The announcements have been made which cannot be termed as populist and was not a genuine budget, as the finance minister did not have money in the kitty. In such a situation, it is to be seen if the announcements made today, materialise in the future.”
Praveen Kumar, a private employee, said “Healthcare was emphasised in the budget, but I personally feel that ayurveda should have been given importance. Along with allopathy, ayruveda should also be promoted.”
He also felt that a time-bound roadmap for the implementation of the budget announcements should be made.
Dr MCR Vyas, a senior citizen, hailed the decision to exempt interest on income on deposits with banks and post office from the existing Rs 10,000 to Rs 50,000.
Usha Maheshwari, a freelance content writer, said tax on mutual funds under long-term capital gains is not a welcome step.
“Now people have started understanding mutual funds and were encouraged to make small savings, but they will be discouraged,” she added.
Bhuvnesh Sharma, a private employee said “I am disappointed as income tax slab has not been increased. There is nothing for the salaried class.”
Similarly, Amita Saini, homemaker said, “I don’t find this budget has provided any relief to the common man, who is reeling under inflation.”
JAIPUR:
industry lobby bodies hailed the Union budget presented by Finance minister Arun Jaitley Thursday, the local traders ‘ body expressed apprehension.
Calling the budget “good” and “visionary”, Confederation of Indian Industry (CII) Rajasthan council chairman Basant Khaitan said, “The government has given emphasis on agriculture and healthcare.”
Federation of Indian Chamber of Commerce and Industry (FICCI) Rajasthan State Council chairman Ashok Kajaria termed the budget as balanced, focused and growth-oriented. He said extending corporate tax rate of 25% to industries with a turnover of up to Rs 250 crore will help the Ministry of Micro, Small and Medium Enterprises, which dominate the industrial landscape of Rajasthan. “National Health Protection Scheme for covering 10 crore poor and vulnerable families (approximately 50 crore beneficiaries) providing coverage up to 5 lakh rupees per family per year is a giant leap forward in providing access to secondary and tertiary care hospitalisation to approximately 40% of our population,” he added.
FICCI Rajasthan State Council head Atul Sharma said that the thrust on agriculture and allied areas in the budget will usher next wave of growth.
CII, vice chairman Anil Saboo, too, called the budget growth oriented. Backing the budget, CII-Indian Women Network vice chairperson
JAIPUR:While
Sheenu Jhanwar said that in this union budget there has been the focus on healthcare. “The focus is on non-communicable diseases and mother and child, but I feel mental health should have also been included.”
Suresh Poddar, chairman and managing director of Mayur Uniquotors said Rs 1.48 lakh crore will be spent on railways in the rail budget, which is quite good. Giving thumbs up to the budget, Kamal Auto Finance director Shreyas Kasliwal said that last year it was about skill and this year it was about health. “It is good.”
“Proposal for developing 10 prominent tourist sites into iconic tourism destinations is a welcome step and we hope that a few of them would be developed in Rajasthan,” said Randhir Vikram Singh joint managing director of Mandawa Hotels Ltd.
However, not everyone was impressed with the budget. Rajasthan Khadya Padarth Vyapar Sangh chairman Babu Lal Gupta said that the budget was a big disappointment for the salaried class. “Tax slabs have not been changed, so the purchasing power of the common man will not increase,” he added.
Apra Kuchhal past chairperson of FICCI Ladies Organisation termed the budget as “disappointing”. “Announcements have been made, the budget has been allocated, how it will be executed is a big question. There has been no specific announcement for women and the common man is not happy with the budget.”