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Vinod Kumar calls it pro-poor
TRSPP deputy floor leader B Vinod Kumar here on Monday welcomed the Budget as it reflected people\'s aspirations. The fact that the Budget addressed issues related to Agrarian sector indicated that the Modi government had finally heard the voice of the people.
TRS MPs hail Budget
New Delhi: TRSPP deputy floor leader B Vinod Kumar here on Monday welcomed the Budget as it reflected people's aspirations. The fact that the Budget addressed issues related to Agrarian sector indicated that the Modi government had finally heard the voice of the people.
In its first Budget, this government had derided the MGNREGA as a testament to the Congress’s failure and there was even talk that the scheme might be scrapped. It had now done a complete U-turn and had made the highest ever allocation to it at Rs 38,500 crore. Similarly, it had ramped up expenditure in social sectors such as health, education, agriculture and rural development.
However, he said the government should have considered introducing an inheritance tax on the inheritance of property. This would be a progressive tax on the rich and would be a valuable source of revenue for the government. It is already in force in many countries and should be introduced in India as well, the MP said.
Another welcome decision is to appoint a committee to review the FRBM Act. This is of special importance to the government of Telangana. Being a revenue surplus state, it is seeking an increased borrowing limit i.e. up to 3.5 per cent of state GDP. This requires exemptions under the FRBM Act.
He said the following were appreciable initiatives by the government in this Budget:
• Target of doubling farmer’s income in the next 5 years
• Rs 2.87 lakh crore as grants-in-aids to panchayats and municipalities
• Rs 5,500 crore for crop insurance under Pradhan Mantri Fasal Bima Yojana
• Rs 38,500 crore for MGNREGA
• Rs 2.2 lakh crore for infrastructure development
• Opening of 3,000 generic stores under Jan Aushadhi Yojana
• National Scheduled Caste and Scheduled Tribe Hub for entrepreneurship development
• 0.5 per cent Krishi Kalyan Cess on all taxable services to be used for financing initiatives relating to the improvement of agriculture and welfare of farmers
• Dispute Resolution Scheme (DRS) to expedite clearance of three lakh tax cases worth 5.5 lakh crore pending in 1st appellate authority
• LPG connection to rural women
• Introduction of Bill to give Aadhaar statutory backing
