Mixed reactions on Jaitley’s budget

Tirupati: There were mixed reactions in various sections on Union Budget 2018-19 presented by Finance Minister Arun Jaitley in on Thursday. Middle class and salaried people have expressed their ire that they were the neglected lot with no change in income tax slabs or rates and evenLok Sabha the prices of mostly used common products like mobiles, TVs and motor bikes will become expensive.

To know the pulse of people representing different sections, besides, eliciting the mood of common people, The Hans India spoke to four persons from different walks of life. Chartered Accountant (CA) E Phalguna Kumar has appreciated the steps taken by the Finance Minister to control fiscal deficit to 3.3 per cent in this budget which was almost 4.5 per cent in GDP almost three years back.

This was amazing, he said. “There was no tax on the profits accrued from stock market for almost 30-40 years. During the three-and-half-years of NDA government, the wealth of stock market had gone up by 25 per cent. Hence the Finance Minister proposed a new tax of 10 per cent on stock market profits beyond Rs 1 lakh in a year,” he explained.

Similarly, there was standard deduction was reintroduced in this budget which provides some relief to tax payers. Federation of Farmers Association State President Mangati Gopal Reddy has welcomed the announcement that by 2022 farmers income will be doubled. “The move to increase the minimum support price for crops by one-and-half times of their production cost will benefit farmers but to implement this a statutory body has to be appointed.

The tax exemption to food processing sector also will be beneficial as the future belongs to this sector. Operation Green with an outlay of Rs 500 crore to take care of the challenge of price volatility of perishable commodities like tomato, onion and potato is a good step but the amount has to be increased to Rs 1,500 crore,” he opined.

The Head of the Economics Department in SV University and an expert in Public Finance, Prof K Santha Kumari felt that loans to women Self-Help Groups (SHGs) to the tune of Rs 75,000 crore will benefit them further. Distribution of free LPG connections will be given to 8 crore poor women. “The decision to bring 10 crore poor families under insurance cover up to Rs 5 lakh each with the payment of Rs 330 as premium was a welcome step. Budget projects increase in exports by 15 per cent which shows the strength of our industry.

However, the decision of the Finance Minister not to touch income tax rates will affect middle class and salaried people more than others,” she maintained. Tirupati Chamber of Commerce President A Manjunath criticised the budget saying that it has poured water on the assurances given to the state in the Reorganisation Act by showing empty hands to the people of AP. “There was no mention on Polavaram Project and its finances.

Backward Rayalaseema region has to get Rs 1,200 crore from the centre which was not addressed till now. There was no commitment on special package and this is high time Chief Minister N Chandrababu Naidu has to think of it seriously,” he averred. On one hand they advocate digitalisation and on the other they increase mobile phone rates, what does it mean, he questioned. There were no sops for construction sectors and middle class people. Increase in education cess will further lay more burden.

TDP MP disappointed
Chittoor: TDP MP Dr N Sivaprasad said on Thursday that he was disappointed with the Union Budget presented by Finance Minister Arun Jaitley in Lok Sabha on Thursday. Chittoor MP stated that there was no mention of allocation of funds to pending railway projects like construction of Rail Over Bridges (ROBs) in the district. He alleged that the central government was intentionally neglecting the district. Sivaprasad said that he will apprise the Chief Minister over non-allocation of funds in the budget and request him to take necessary action.

NDA ignored steel plant: CPM
Kadapa: People of the district were disappointed as there was no mention of steel plant in the Union Budget presented by the Finance Minister in Lok Sabha on Thursday. Political leaders cutting across party lines were demanding the central government to set up the steel plant in the district which was included in the AP Reorganisation Act. Only relief was that the allocation of Rs 240 crore for 257 km-long Kadapa-Bengaluru railway line. CPM district secretary Eswaraiah said that state and central governments are showing negligence in setting up steel plant and other industries in the district.