SHILLONG: The interim Budget presented by Finance Minister Piyush Goyal in Parliament on Friday evoked mixed response in Meghalaya as some considered it cosmetic while others called it the much- needed reliever for the common man.
Senior Congress leader Ampareen Lyngdoh said that it is a “cosmetic” Budget as elections are round the corner and the NDA government has suddenly woken up to promise the world to the people.
Stating that farmers have suffered for five years, she added that the taxation system in the country all these five years was a headache and with elections just round the corner, the government has realised the need to give a breather to the public.
She added that though huge funds have been allocated for the North East, she, however, questioned as to how much money which was allocated in the last budget has been released and how much is pending.
She also said that she does not appreciate the constant reminder about railway projects in Meghalaya when in reality nothing has been kicked off in the state.
“This is a cosmetic Budget to wow voters who are angry with the NDA over the last 5 years,” she said.
An Economics teacher, M Chettri, said that it is a good Budget mainly for farmers and the middle class with the full rebate up to Rs 5 lakh annual income after all deductions being the “best part.” “Over all it is a great election package Budget of the BJP government,” she added.
UDP leader Allan Dkhar said that the Budget is politically motivated and it has nothing to do with economics of the country, adding that the government is silent on the job dilemma and the common man can understand that the Budget is to entice voters into believing that the BJP if returned to power will do wonders which is contrary to the truth.
Positive: MCCI
Meghalaya Chamber of Commerce and Industry (MCCI) president Ratan Lal Sethia said that the Budget being the last to be presented by the current regime has finally doled out the much-needed respite to the middle-class and salaried people.
“Also, a lot of incentives have gone to the farmers. By exempting income up to Rs 5 lakh, the government has put a good amount of disposable income in the hands of the middle class . Also, a lot of effort has been made to ease compliance burden of TDS by raising the thresholds. An increment of Rs10000 in the standard deduction is a welcome step for the salaried class. Bank deposits have been made more attractive by enhancing the exemption limit on interest income from Rs 10000 to Rs 40000,” he said.
“All in all, the government has presented a positive Budget by not imposing any new taxes on the middle class,” he said.
Historic: IIM Shillong
Meanwhile, IIM Shillong said that the Budget was historic in its own sense as it dared to target the areas which were not targeted to this depth by any of the previous governments.
“As was expected, because of the upcoming elections, the Budget majorly targeted the lower and middle-class sector of the Indian economy, ” it said in a statement
The statement the government has taken some major steps, especially for the agricultural sector.
“The extension of the Kisan Credit Card Scheme to animal husbandry and fisheries sector along with two per cent loan waiver to this sector is going to augment the growth of animal husbandry and fisheries sector which contributes around 1.1 per cent to the Indian GDP empowering the 1.45 crore people involved in this venture.
“Infrastructure sector also saw generous spending with additional capital support of Rs 65,587 crore in the financial year 2019-20 being allocated towards Railways while mentioning that the operating ratio is expected to fall to 95 per cent. Additionally, Rs 19000 crore is to be contributed towards Sadak Yojana,” the statement added.
