From Arvind Kejriwal to Rahul Gandhi to Smriti Irani, everyone had their two cents on this year's annual budget
Finance Minister Nirmala Sitharaman on Saturday presented the Union Budget 2020-21. As the Indian economy faces one of the worst slowdowns in the country, Sitharaman had her task cut out to announce measures that will spur growth.
Among the key highlights from the Union Budget 2020 presentation, the central government introduced a new optional personal income tax system and also announced several packages to allocate funds in the healthcare, education, agriculture and infrastructure sectors.
The bank depositors' insurance coverage was also raised to Rs 5 lakh from Rs 1.
For further details on what was announced today, give this a read:
As it is with every year, the announcement of the Union Budget brought in a number of comments and reactions, from economic experts and politicos alike. Here's the who-said-what of Union Budget 2020-21:
1. Step-motherly treatment meted out to Delhi: Arvind Kejriwal
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Delhi Chief Minister Arvind Kejriwal hit out at the central government over the Union Budget 2020-21 presented by Union Minister of Finance Nirmala Sitharaman on this day. Kejriwal called the Budget 2020 a 'step-motherly treatment' that has been meted out to Delhi.
Kejriwal took to Twitter to highlight that Delhi was not prioritised in the Union Budget and threw open the question, "When Delhi doesn’t figure in the BJP’s priorities, why should people vote for it?”
"Delhi had high expectations from the budget. But once again the Delhiites have been meted out a step-motherly treatment. Delhi does not come in BJP's priority, so why should Delhi vote for BJP? When the BJP is disappointing Delhi before the election, will it keep its promises after the election?" Arvind Kejriwal posted from his official Twitter handle in Hindi.
दिल्ली को बजट से बहुत उम्मीदें थी। लेकिन एक बार फिर दिल्ली वालों के साथ सौतेला व्यवहार हुआ। दिल्ली भाजपा के प्राथमिकताओ में आता ही नहीं, तो दिल्ली वाले भाजपा को वोट क्यों दे? सवाल ये भी है की चुनाव से पहले ही जब भाजपा दिल्ली को निराश कर रही है तो चुनाव के बाद अपने वादे निभाएगी?
— Arvind Kejriwal (@ArvindKejriwal) February 1, 2020
With the Delhi Assembly Polls 2020 knocking at the door, anticipation broils up among people in the national capital. In such a backdrop, Kejriwal's tweet is being read in the context of his Aam Aadmi Party (AAP) targetting the Bharatiya Janata Party (BJP) ahead of the polls.
This year, the ruling AAP will be locked in a triangular contest with the BJP and the Indian National Congress (INC), but the AAP is the being considered the favourite to retain the Union Territory.
2. Redundant, doesn't address unemployment: Congress
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Congress slammed the Union Budget 2020-21 presented by Finance Minister Nirmala Sitharaman, with former party president Rahul Gandhi calling it a "hollow approach" of the government that was "all talk"
While addressing reporters outside the Parliament after the Union Budget was announced, Rahul Gandhi said, "The main issue is unemployment. I did not see any concrete, strategic idea that could help our youngsters get jobs. There were redundant things in the budget and I did not see any central idea.”
Senior Congress leader Ahmed Patel said that at a time when India is in the midst of an economic downturn, Finance Minister Nirmala Sitharaman’s budget speech focuses more on praising the prime minister rather than helping the common citizen.
“Longest Budget speech is also the most lacklustre budget ever. After Acche Din, New India, it now appears that the government has also abandoned the target of USD 5 trillion economy,” Mr. Patel said in a series of tweets.
3. Here's what experts said
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Renowned agricultural scientist Dr MS Swaminathan praised the Union Budget 2020-21 for the agricultural initiatives regarding horticulture, fisheries, and manures, adding that he would like the states to work with the central government on these issues.
Renowned agricultural scientist Dr MS Swaminathan hails the Union Budget for the initiatives on Agri, horticulture, fisheries and manures. He asks the states to work with the Centre. #Budget2020 | #BudgetWithAIR | #JanjanKaBudget pic.twitter.com/ZAFniUGbid
— All India Radio News (@airnewsalerts) February 1, 2020
Dikshu C. Kukreja, an infrastructure expert said, "Reducing tax rates for the lower brackets is a good move in current times since it is increasing disposable income which can trigger consumption across sectors. The expected and much-needed thrust on infrastructure is wanting on many fronts as well as on healthcare, education IPO for LIC also helps in increasing government collection and is a good move"
Motilal Oswal, Managing Director & CEO, Motilal Oswal Financial Services, said, “Markets have taken a cautious view on the budget, the tax rate cut and DDT benefit will help the economy to grow and corporate payouts to increase, at these levels one should buy for long term.”
4. Historic tax relief for middle class: Smriti Irani
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Union Minister of Women and Child Development Smriti Irani on Saturday hailed the Union Budget 2020-21, presented by Finance Minister Nirmala Sitharaman on this day, and called it a 'historic tax relief for the middle class'.
While speaking to reports, Irani said that the Union Budget is an accurate representation of the people's expectations as Finance Minister Nirmala Sitharaman and Prime Minister Narendra Modi had met several experts and professionals across industries to get an idea of their problems, ahead of the Budget.
Irani also said that the budget is a major boost for the textile industry.
"The textile industry, which provides the most employment in our country after the agriculture sector, has received a major boost. The Budget also provides robust positive outlooks on nutrition, the issue of reservation for backward classes, taxation, etc," Union Minister Smriti Irani said.
