NEW DELHI, Feb 1: As the Prime Minister Narendra Modi on Tuesday praised the union budget presented in Parliament by the finance minister Nirmala Sitharaman as a “people-friendly” budget, the opposition slammed the government for the “insipid and uninspiring budget” that has nothing to cheer for the middle class and the poor.
Reacting on the budget, Modi in a televised statement said the budget was “people friendly, progressive” and full of possibilities for infrastructure, investment, growth and jobs. According to him, an important aspect of the Union Budget was welfare of the poor. “It seeks to solve contemporary problems and create new opportunities for the common people,” he said.
“The Budget aims to ensure pucca house, toilet, tap water and gas connection for every poor household. At the same time focus is on modern Internet connectivity also,” the Prime Minister said. The Budget this year has come with a new confidence of development amidst the once-in-a-century calamity, Modi said adding that it would create new opportunities for common people along with providing strength to the economy.
The Prime Minister said the Budget is “full of opportunities for more Infrastructure, more investment, more growth and more jobs. This will further open the green job sector. This Budget not only solves contemporary problems but also ensures bright future for the youth.” Modi said the Parvatmala scheme would create a modern system of transportation in hilly areas such as Himachal Pradesh, Uttarakhand, Jammu and Kashmir and the Northeast.
“The quest for modernity and technology in every sphere of life through steps such as drones for farmers, Vande Bharat trains, digital currency, 5G services, national digital health ecosystem will hugely benefit our youth, middle class, poor, Dalit and backward classes.”
Along with the cleaning of the Ganga, which is the centre of faith of millions of Indians, the government would encourage natural farming on the banks of the river in the five States of Uttarakhand, Uttar Pradesh, Bihar, Jharkhand and West Bengal, the Prime Minister said. “This is a significant step for the welfare of the farmers and this will also help in making Ganga chemical-free.” He said the provisions in the Union Budget also aim to make agriculture lucrative and full of new opportunities.
“Measures such as special fund for encouraging new agriculture startups and package for food processing industry will help in increasing income of farmers. More than ₹2.25 lakh crore are being transferred in the account of the farmers through MSP purchase,” he said.
Modi said along with record increase in the credit guarantee, many schemes have been announced in the Budget. “India’s MSME sector will greatly be benefitted by the reservation of 68% of the Defence Capital Budget for the domestic industry. A total of ₹7.5 lakh crore worth of public investment will give new push to the economy and create new opportunities for small and other industries”, he said.
The Opposition parties, however, were far from impressed from the budget proposals. The Congress termed the budget “insipid” and “uninspiring” with no ideas or proposals to boost consumption and provide relief to the poor, salaried class, middle class or the farmers. In its initial comments, the party said the salaried class and the middle class – reeling under the impact of the pandemic, pay cuts and “back breaking” inflation – were hoping for relief. “The Finance Minister and the Prime Minister have again deeply disappointed them. This is a betrayal of India’s salaried class and the middle class,” Congress communication department head Randeep Surjewala said.
Lok Sabha MP Manish Tewari called the budget “insipid, unimaginative, uninspiring, unrealistic and unimplementable.”
Surjewala said the truth of the Budget is that “it was a nothing budget. The pockets of the poor, salaried class, middle class, farmers had been empty, but there is nothing for them in the budget. The hopes of the youth are broken but there is nothing for them either. And there is nothing to boost consumption and promote small businesses,” he said.
On the announcement that the RBI would roll out a digital currency based on blockchain technology, Surjewala asked “Is crypto currency now legal, without bringing the crypto currency Bill, as you tax the crypto currency? What about its regulator… regulation of crypto exchanges and investor protection?”
CPM general secretary Sitaram Yechury asked who will benefit from the Budget. “The richest 10% Indians own 75% of the country’s wealth. Bottom 60% own less than 5%. Why are those who amassed super profits during the pandemic, while joblessness, poverty and hunger have grown, not being taxed more?” he sought to know.
“Diamonds are this government’s best friend. For the rest— farmers, middle class, daily earners, unemployed— this is a PM (Does Not) Care Budget,” said Trinamool Congress leader Derek O’Brien.
Attacked by the opposition, Sitharaman hit back asking the Congress former president Rahul Gandhi to first “try to understand” the budget before making remarks like ‘zer0 sum Budget.’
During her post-Budget press conference, Sitharaman said she pity those making quick responses on Twitter. The finance minister added that she is ready to take on “informed criticism” but not on statements that have only been made for the sake of posting on social media, especially by the leader of India’s oldest political party, who “hasn’t done his homework right.”
Sitharaman further urged the Congress leader to first take care of the states where his party rules, and implement the schemes that have been announced by the BJP-led Centre. “Deaths among cotton farmers are still happening in Punjab. Let him first take care of Maharashtra, Punjab and Chhattisgarh, and then talk,” she added.
Earlier in the day, Gandhi took to Twitter to say that the Union Budget does not have anything for “salaried class, middle class, the poor and deprived, youth, farmers and MSMEs.” While quashing Gandhi’s remarks, Sitharaman said she has clearly mentioned in her Budget speech all the benefits that the Centre has allocated to each of the sectors that the Congress leader mentioned.
(Manas Dasgupta)