a) Did the budget meet your expectations? If yes, why? If no, why?
The farmers have been given their due in this budget, which for me is the best part. Various education-related initiatives have been announced. This budget does not offer the middle class anything with no changes in the tax slabs from last year. The budget has much to offer to the poor people and even investors but nothing much to the middle class. Every government at the Centre has ignored the middle class despite the fact that this class is honestly paying its taxes. No politician has the guts to touch the taxable income of agriculture — because it is money-spinning for politicians and the business class — or putting the burden of taxes on industrialists because they too help them win elections. We should all press the NOTA button in the next election.
b) What’s the ‘Aha’ factor of the budget?
The benefit announced for farmers and also the initiatives announced for the education sector.
c) What could the FM have done that he didn’t?
Nothing has been announced for homemakers. The finance minister could have announced
tax deduction in kitchen-related items that would have made us happy. Homemakers feel left out in this budget.
d) Is this a budget keeping elections in mind? If yes, why? If no, why?
Certainly the budget has been made keeping elections in mind, otherwise poor and industry-centric initiatives would not have been announced.
a) Did the budget meet your expectations? If yes, why? If no, why?
Yes, it will boost the footfall of tourists as the government has taken steps to promote various destinations under the Prasad (pilgrimage rejuvenation and spirituality augmentation drive) scheme. More than a dozen different circuits have been identified for development, such as North-East India Circuit, Buddhist Circuit, Himalayan Circuit, Coastal Circuit, Krishna Circuit, Desert Circuit, Tribal Circuit, Eco Circuit, Wildlife Circuit, Rural Circuit, Spiritual Circuit, Ramayana Circuit and Heritage Circuit. Also most of the tourist cities — such as Ajmer, Amritsar, Amravati, Dwarka, Gaya, Kamakhya, Kanchipuram, Mathura, Patna, Puri, Varanasi and Velankanni — have been identified for development.
b) What’s the ‘Aha’ factor of the budget?
Allocation of Rs 1,840.77 crore to the tourism ministry in the budget for the next fiscal, including Rs 959.91 crore for the integrated development of tourist circuits around specific themes (Swadesh Darshan scheme).
c) What could the FM have done that he didn’t?
Nothing as such
d) Is this a budget keeping elections in mind? If yes, why? If no, why?
No , I don’t think so. But we also can say that in some context it is far away from reality and more political in nature.
a) Did the budget meet your expectations? If yes, why? If no, why?
No. The budget is disappointing because for our sector (real estate) there is nothing. Again, from a personal point of view, there is no change in the income tax slab. This should have been increased. We were expecting some tax relief but it didn't come about
b) What’s the ‘Aha’ factor of the budget?
The best thing is that though real estate has been left untouched, infrastructure spending has been considerably increased, be it in railways or building hospitals. A major boost has been given to the health sector that will go a long way in improving the health care system.
c) What could the FM have done that he didn’t?
The finance minister should have given a thrust to the real estate sector which he missed. The real estate sector's contribution to the GDP is around 6-8 per cent. Also, there are around 300 ancillary industries which are directly related to the real estate sector. If we take into account the cumulative effect of the real estate sector on the GDP, it is around 15-20 per cent. All these have been ignored by the finance minister.
d) Is this a budget keeping elections in mind? If yes, why? If no, why?
I cannot say anything on this as I represent the industry. But, surely, this is not a populist budget.
a) Did the budget meet your expectations? If yes, why? If no, why?
Yes it is a pro-farmer budget and the focus is on rural growth. Special initiative is going to be taken for development of the existing markets and also equipping them with electronic trading facility. These steps will help the farmers in a big way as they will get a good price for their produce. The decision to set up mega food parks will benefit farmers because these parks will consume perishable items and farmers will have an assured option of supplying their horticulture produce to the units that will come in these parks.
b) What’s the ‘Aha’ factor of the budget?
Steps like giving kisan credit card to those in the animal husbandry and fisheries sector.
c) What could the FM have done that he didn’t?
The finance minister should have put some more money in the hands of the salaried class by tinkering the taxable income slab. More money in the hands of the people will lead to increase in demand, which in turn will benefit both farmers and industrialists.
d) Is this a budget keeping elections in mind? If yes, why? If no, why?
No, this is not an election budget. While offering sops to poor people and farmers, the budget has adhered to fiscal discipline which is good for the future of the economy.
a) Did the budget meet your expectations? If yes, why? If no, why?
The budget is according to the people’s expectations. It takes care of the farmers, taking care of their health with the insurance scheme by ensuring protection to around 50 crore people. It is historic because post-Independence, no such decision was taken. The budget takes care of education and also emphasises digitisation. And with 1.5 lakh Arogya centres, wellness centres and 24 medical colleges with the health protection scheme, it will nearly achieve health for all. Stress has also been laid on sanitation measures by announcing projects for making the Ganga clean. Earlier, women in rural areas were dependent on cow-dung cakes for cooking but the announcement of providing them LPG connection is also appreciable. Investors working in agriculture sector have also been promised incentives. All this will result in reducing migration from villages.
b) What’s the ‘Aha’ factor of the budget?
The aha factor of the budget is that it is taking care of health protection of 50 crore poor people by giving them insurance of Rs 5 lakh per family.
c) What could the FM have done that he didn’t?
Every aspect has been taken care of in this budget.
d) Is this a budget keeping elections in mind? If yes, why? If no, why?
I don’t know whether it is made thinking of polls in mind or not, but it is certainly pro-people.
a) Did the budget meet your expectations? If yes, why? If no, why?
This budget has met my expectations to a very considerable extent. There is a special focus on rural and agro-based economy and on farmers’ income generation. Also, there is focus on infrastructure, housing schemes and health. Ayushman Bharat programme for universal healthcare is the special feature. However, there are other sections of society which have been untouched in this budget. For example, women have not been given significance. Simply raising the limit of deduction for health insurance premium and medical expenditure for senior citizens won’t help much.
b) What’s the ‘Aha’ factor of the budget?
Could not spot any aha factor for the common people except the emphasis given to farmers and the rural economy. We were thinking of agro-based initiatives from the government as it has promised for the same earlier. The aha factor is something that should surprise me but this budget has not surprised me at all. We expected these announcements.
c) What could the FM have done that he didn’t?
Senior citizens’ concerns should have been comprehensively addressed but this has not been done in this budget. Some relief has been given to salaried persons though.
d) Is this a budget keeping elections in mind? If yes, why? If no, why?
The budget has a long-term vision of growth. So, definitely it is not a populist budget.
a) Did the budget meet your expectations? If yes, why? If no, why?
Yes, the budget met our expectation to some extent for students and youths. The finance minister talks about employment generation and by 2022 every block with more than 50 per cent ST population will have Ekalvya schools on a par with Navodaya Vidyalayas. The government will identify 1,000 BTech students each year and provide them facilities to do PhDs in IITs and IISc.
b) What’s the ‘Aha’ factor of the budget?
The customs duty on certain products, such as mobile phones and televisions, has been increased to strengthen Make in India. The government will contribute 12 per cent of the wages of new employees in the Employees’ Provident Fund in all sectors for the next three years — it really looks employee-centric.
c) What could the finance minister have done that he didn’t?
The finance minister could have done more for students and more for Bihar’s education; that disappointed me. There could be more educational institutes, he could have focused on that but he didn’t.
d) Is this a budget keeping elections in mind? If yes, why? If no, why?
Yes, the budget is planned keeping polls in mind, because he promised a lot for farmers and the majority belong to rural sectors. There is not any increase in personal tax — that was planned keeping in mind that polls are around the corner.
a) Did the budget meet your expectations? If yes, why? If no, why?
Yes, because this is budget for all, focusing on agriculture, rural economy, inclusive health, infrastructure and also for micro, small & medium enterprises (MSMEs). This budget is pursuing economic reforms and also doing course-correction specially in the agriculture and health sectors. Reducing the tax of MSME from 30 to 25 per cent and also raising the revenue limit from Rs 50 crore to Rs 250 crore is historic and it will create another benchmark for the development of the economy.
b) What’s the ‘Aha’ factor of the budget?
Focus on creating employment by supporting various sectors and overall by providing health security to 10 crore families with Rs 5 lakh per annum health insurance. Linking fisheries and animal husbandry farmers to kisan credit card and agriculture exposure to Rs 11 lakh crore.
c) What could the FM have done that he didn’t?
He should have extended more relief to individuals and the salaried class income-tax payer and created more openings in the area of private sector investments.
d) Is this a budget keeping elections in mind? If yes, why? If no, why?
No, this budget is in continuation of the reforms going on for the last four budgets and takes bold initiative in almost all sectors for long-term benefits. Controlling the fiscal deficit to 3.3 per cent for the next financial year is a bold step.
Compiled by Sanjeev Kumar Verma, Roshan Kumar, Nishant Sinha and Shuchismita Chakraborty
