As the covid-19 pandemic has hit the common man to muchextent, many said that they had a lot of expectation from the government throughthis budget. However, with no relief to middle class in terms of income taxexemption, they are left disappointed.
Besides, they have termed the budget pro-corporate as FinanceMinister Nirmala Sitharaman announced that the government will privatise two publicsector banks other than IDBI Bank. One general insurance company will also beprivatised in the coming fiscal, she said.
A section of society has slammed the Union Budget forFY22, saying that budget has nothing for the poor, the working class, themigrants, the farmers, the industrial units that had been closed downpermanently, and those who had lost their jobs, both regular and informal, andare still looking for jobs.
Sitharaman also exuded confidence that all the announcedprivatisation decisions will be completed in the next fiscal, despite themassive delay so far and the impact of the pandemic. Thereby, she assured thatthe much delayed disinvestment processes of Air India and BPCL among otherswould be completed in the upcoming fiscal.
Besides, the Congress leader Rahul Gandhi on Mondayslammed the Centre for not providing cash transfers to the poor in the UnionBudget, and said the Modi government was planning to give the country's assetsto a few capitalists.
In a tweet after the Budget, he said, "Forgetputting cash in the hands of people, Modi Govt plans to handover India's assetsto his crony capitalist friends."
Also, many experts and the opposition came down heavilyon the Centre after the Union Budget presentation by Finance Minister NirmalaSitharaman.
Ahead of the Budget, the Congress had sought the repealof the farm laws and more expenditure on the agriculture sector.
Rahul Gandhi had said, "Support MSMEs, farmers andworkers to generate employment, and increase Healthcare expenditure to savelives. Increase Defence expenditure to safeguard borders."
The Congress had earlier stated that the governmentshould impart a large fiscal stimulus to the economy, even if it was belated."Such a stimulus alone will put money in the hands of the people,"the party had said.
The Congress leaders had asked the Centre to make directcash transfers to 20-30 per cent of the families who are at the bottom of theeconomy for a period of at least six months.
It also asked the government to formulate and implement arescue plan for the MSMEs to revive closed units, recover lost jobs and createnew jobs for those who had moderate education and skills, and also reduce taxrates, especially GST and other indirect tax rates on petrol and diesel.
The party said the government should increase governmentcapital expenditure and encourage public sector banks to lend without fear ofinvestigative agencies probing every loan.