Karimnagar: Mixed response to Union Budget

Karimnagar: Mixed opinions have been expressed over the Union Budget presented by Finance Minister Nirmala Sitharaman in the parliament on Tuesday.

The Finance Minister though seemed to work hard to fill the economy with new vitality as it has collapsed over the past two years due to Covid crisis, her efforts failed to impress the common man.

A company secretary and chartered accountant Rondla Dilip Kumar opined that much to the disappointment of the salaried class, the Finance Minister shied away from providing any income tax relief.

She did not change the personal income tax rates in the Budget 2022-23 and also did not raise the standard deduction, which was widely anticipated in view of elevated inflation levels and the impact of the pandemic on the middle class.

However, relief has been provided to persons who have received money for expenses incurred on treatment of Covid -19. Likewise money received by family members on death of a person would be exempted up to 10 lakhs for family members, he noted.

An assistant professor of commerce Dr T Lavanya said the focus of the budget was on growth and development of youth and women to encourage the startup of small and medium enterprises. It could provide employment opportunities to youth focusing on Make in India by strengthening the MSME sector for the overall development of the country.

The agriculture sector was also given prime importance as a separate portal for the sale of agricultural products. Prominent step in the field of education by introducing Digital University for digital learning. Capital invent statement was excellent and introduced a PPP partnership to develop the nation, she noted.

Leading Economics lecturer Kokkula Rajender told The Hans India that the allocation of Rs 11 lakh crore for capital investment in infrastructure was a good omen and all sectors are moving towards digitalisation. But the budget caused frustration for wage earners.

Giving interest free loans to support States to boost consumption in the face of the damaged State economy was going to be delightful. It was happy to give priority to the housing sector, Rajender said.

Venkat Ramulu, a farmer from Ramadugu, said there was nothing specially done for farmers in the Central budget but it was gratifying to set up a portal for agricultural products and to set up food processing industries in PPT manner, especially for the promotion of organic farming.