Citizens give thumbs up to Nirmala’s maiden budget

Citizens give thumbs up to Nirmala’s maiden budget

The Union Budget has stressed on improving higher education system for learning and research, Professor of Economics at MBA department of Alva’s College G V Joshi said.

Speaking to DH, Joshi, a former member of Karnataka State Planning Board, said Union Minister for Finance Nirmala Sitharaman had emphasised on setting up National Research Foundation (NRF) to improve higher education in the country, which is a welcome move.

He said the budget had also encouraged autonomy in higher education. The budget has proposed to implement National Education Policy 2019.

However, the budget has not made an effort to step up demand for goods and services in the market. It clearly shows that budget is presented after the election unlike interim budget of the Modi-led government. The budget only speaks of development for next 10 years and not on what new programmes will be introduced in the next seven to eight months, Joshi added.

Boon for fishermen

Dakshina Kannada MP Nalin Kumar Kateel said the budget had laid special emphasis on empowerment of women. Pradhan Manthri Mathsya Sampada scheme will prove to be a boon to fishermen in the coastal districts. “I also welcome the decision to develop railway infrastructure with private participation,” Kateel added.

New India

Mangalore City South MLA Vedavyas Kamath said, “Budget is as per the aspirations of Prime Minister Narendra Modi on building new India. Nirmala Sitharaman broke convention by carrying budget documents wrapped up in red cloth instead of a briefcase. Laying of 30,000 km road under Pradhan Mantri Grama Sadak Yojana using plastic waste is an eco-friendly initiative. Budget has given priority to development of the

Trawl Boat Owners Association President Nithin Kumar said, “By constituting a separate ministry for fisheries, the government has given priority to fishing.  The budget has responded to the demands of the fishing community.”

Senior Chartered Accountant and The Institution of Chartered Accountants Mangaluru branch Vice Chairman S S Nayak said the Union Budget 2019 was complementary to the interim budget presented earlier. “Overall, the Union budget is good for the poor and the middle class.”

He said that this is a green budget as up to Rs 1.5 lakh tax rebate is provided on bank loans availed towards the purchase of electric vehicles. Affordable housing loan is a good scheme for the middle class as Rs 1.5 lakh additional tax deduction on housing loans up to 45 lakh is provided.

The medium and small scale industries have been provided with more encouragement in terms of recapitalisation through banks. The lending resources by banks to MSME, is increased. To prefer digitisation over the cash economy, bank withdrawl more than Rs one crore will be subjected to 2% TDS. Corporate companies have been given a relief as the 25% tax slab is increased from Rs 250 crore to Rs 400 crore. PM’s Karmayogi Maan Dhan pension scheme is extended to merchants having an annual turnover up to Rs 1.4 crore, which is laudable, he said.

Nayak said increase in the import duty on cashew would burden cashew industries.

KCCI President P B Abdul Hameed termed the budget as people friendly, with ‘pro-grameen’, ‘pro-kissan’ and ‘pro-Garib’ programmes.

The budget has made provision for hassle-free interaction with the government through electronic interface. The budget has given priority to skill development in rural areas, to check migration of youth to cities in search of employment. To give priority to Make in India, the budget has proposed to increase duty on import of goods.

CPI District Secretary V Kukyan said, “The budget is in favour of corporates. There is nothing for farmers, common man and labour class in the budget. The privatisation process of railways has continued in the budget. The cess on petrol will make the petroleum products dearer. It is disappointing times for the youth, as no priority had been given for generation of employment.”

‘Good Budget’

The drinking water crisis in rural India is alarming and the proposed New Jalashakti Mantralay can address this issue through pipeline connection to each rural household, said Dr Venkatesha Murthy K, economics lecturer, Government PU College, Kokkarne, Udupi.

The other new initiative, setting up of Sustainable Solid Waste management plants in rural India will create healthy rural economy and may contribute to sustainable human development in rural India.