Budget evokes mixed response from people

Budget evokes mixed response from people

The interim Budget, presented by the NDA-led central government on Friday, has evoked mixed response from people belonging to different walks of life. Reuters file photo

The interim Budget, presented by the NDA-led central government on Friday, has evoked mixed response from people belonging to different walks of life.

Speaking to DH, former member of Karnataka State Planning Board and Professor of Economics at MBA department of Alva’s College Prof G V Joshi termed the budget as inclusive in spite of it being an interim budget.

“The budget intends to help the small and marginal farmers through Kisan Samman Nidhi Yojana. Instead of a subsidy, the cash announced by the government will increase the freedom of the farmers.”

Joshi said, “The government has not yielded to the pressure to announce loan waiver scheme for the farmers. The experiences in Maharashtra and Punjab have already shown that the loan waiver is not beneficial to small and marginal farmers.”

“The budget has also chalked out concrete plan to help workers in unorganised sector thereby achieving economic development along with social security. Further, the budget has also announced that individuals with annual income up to Rs 5 lakh will get full tax rebate. Currently, income up to Rs 2.5 lakh for resident individuals is exempt from tax, which is also a big move,” Joshi added.

Nitte (Deemed to be University) Pro Vice Chancellor Prof M S Moodithaya said, “The budget has tried to appease all.”

KCCI President Abdul Hamid termed the budget as productive in nature.

“The budget, with the increase in the slab on tax exemption, will benefit the middle class. The budget has proposed to exempt the notional rent applicable on the second self-occupied house, which will benefit those who own more than one house.”

Hamid said, “To strengthen MSME, the GST-registered SME units will get 2% interest rebate. To promote the “Make in India” initiative, the government has taken measures by abolishing duties on 36 capital goods, which will benefit the industries. The financial assistance for farmers and pension for unorganised sector will increase the liquidity in hand, which in turn will help the business sector.”

Minister U T Khader said that the budget was disappointing for the middle class and Karnataka state. The budget is neither populist nor pro-people in nature. The budget has failed to give priority to youth and student community. It has neglected comprehensive development of the country, especially South India. The budget has been prepared keeping in mind the forthcoming elections.

DCC President K Harish Kumar said, “The budget is filled with lies and will not be implemented. The budget is more of a manifesto for Lok Sabha election. The distribution of Rs 6,000 to farmers is just a lollypop. The budget is disappointing.”

DYFI District president B K Imthiyaz said, “The last budget of the NDA government has failed to provide “Acche Din” for the citizens.”

“The promise of generating 2 crore employment has remained only a promise. Will Rs 6,000 financial assistance help the farmers in solving their problems? The budget has not announced minimum wages of Rs 18,000 for labour class, instead attempt is made to dilute the labour laws. The budget has also  not  announced  special package for natural calamity-hit Kerala, Karnataka and Tamil Nadu states.”

Belthangady MLA Harish Poonja said, “The budget is beneficial for the senior citizens.

“The hike in tax exemption, pension for unorganised labourers, assistance for small farmers, additional grant under MGNREGS for generation of employment will benefit many.”

Mangaluru City South MLA Vedavyas Kamath said the budget has benefited the middle class and the farmers. The budget has also proposed to set up separate fisheries department, which will benefit the fisheries sector.