Financial experts and industry leaders broadly welcomed the Budget, taking particular note of announcements on road development, taxation and health
Soon after the presentation of the Union Budget 2021, BJP members hailed it for its focus on capital expenditure and healthcare while Opposition leaders questioned the Centre over the increase in government borrowing.
Financial experts and industry leaders broadly welcomed the Budget, taking particular note of announcements on road development, taxation and health.
Here are the key reactions till now on the Union Budget 2021:
‘Forward-looking Budget’, say BJP leaders
Senior BJP leader and Defence Minister Rajnath Singh on Monday hailed the Union Budget as one for ‘Aatmanirbhar Bharat’, and asserted that this will strengthen the economy.
Party spokesperson Shahnawaz Hussain praised the Budget’s emphasis on affordable housing for all, and said it is sensitive to the needs of diverse sections of society.
Party leader Jyotiraditya Scindia said Finance Minister Nirmala Sitharaman has presented a well laid-out plan to get the economy back on track.
A forward-looking #Budget – it will make good on the govt’s $5 trillion economy promise.Multiple pluses:increased govt spending in major sectors like infrastructure, agriculture & healthcare; safety net expanded for the vulnerable; & opportunities for greater private investments.
— Jyotiraditya M. Scindia (@JM_Scindia) February 1, 2021
BJP general secretary Bhupender Yadav said the budget will provide a major boost to India’s infrastructure, agriculture and healthcare.
‘Govt’s policies have destroyed economy’, says Congress
Slamming the Union government for its handling of the economy, the Congress said in a tweet on its official handle, “Due to the Modi government’s policies, government borrowings have seen a consistent rise. The government’s policies have destroyed the country’s economy.”
— Congress (@INCIndia) February 1, 2021
In a similar vein, Congress MP Shashi Tharoor remarked —
This BJP government reminds me of the garage mechanic who told his client, “I couldn’t fix your brakes, so I made your horn louder.” #Budget2021
— Shashi Tharoor (@ShashiTharoor) February 1, 2021
The Trinamool Congress also lashed out at the Centre, terming it a 100 percent “visionless” document, and said that its theme was “sell India.”
“India’s first paperless budget is also a 100 percent visionless budget. Theme of the fake budget is Sell India!” TMC spokesperson Derek O’Brien said. “Railways: sold, Airports: sold, Ports: sold, Insurance: sold PSUs: 23 sold!”
O’Brien claimed common people and farmers were ignored, adding that the Budget would make the rich richer and the poor poorer, while the middle class got “nothing”.
Analysts hail announcements on taxation, infra
On the announcements regarding taxation, Ashok Shah, Founding Partner, NA Shah Associates, said, “The finance minister has specifically mentioned in her Budget speech that there is no increase in taxes — neither capital gains tax nor a new levy of COVID Tax. This is in sharp contrast to the general market sentiment that a special tax/cess could be levied. It surely is a welcome move to the already heavily burdened India Inc.”
Rhitiman Majumder, co-founder, Pickrr Technologies, welcomed the outlay on road development, and said, “The infusion of money for road development in four states is a welcome move for smooth/faster logistics transport. This move will further ensure greater connectivity in tier -2 /tier-3 cities in these states.”
Speaking on the healthcare outlay, Divakar Vijayasarathy, Founder and Managing Partner, DVS Advisors LLP, said, “As expected health has been given a prominent platform and was the first pillar of the Budget speech. (The Budget) has increased the allocation by around 138 percent, which is definitely a welcome move.”
With inputs from PTI
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