Budget 2019: Historic document for some, jugglery of words for some

The interim budget has come to please the middle class, even the strongest critics couldn’t deny on advantage of income tax exemption upto Rs 5 lakh. While debate remains on adequacy of support extended to marginal farmers and efficacy of the ‘mega pension scheme’ for workers, the declarations get welcomed by people from various sectors and walks of life. Those in opposition hail the budget to be ‘populous’ and ‘election prop’, those in favour hail it an historic document for ‘New India’. 

‘An election document, jugglery of words’

 “Budget 2019 is an election document of BJP with more supply of Jumlas rather focusing on the demands of people. This Budget has proved to be only a jugglery of words. The FM (finance minister) gave a vision of 10 years when government’s tenure is about to end. Rs 17 a day to the farmers is nothing else but an insult to them. Giving them such a meager amount is like rubbing salt on their wound after their sheer neglect in last 5 years.”

‘A historic budget with common man at its centre’

Its a budget for new India!, it is inclusive, progressive and empowering. I congratulate Prime Minister Narendra Modi ji and Finance minister Piyush Goyal ji on delivering a budget which will further transform India. Pradhan Mantri Kisan Samman Nidhi Yojna - an assured income support for farmers with less than 2 hectares of land, through which 12000 cr farmers will receive ₹6000 annually through direct cash transfers delivers on its promise to uplift farmers. Allocation of ₹3 lakh crore and more if required to Defence and disbursement of ₹35,000 crore rupees under OROP scheme, are no short of being historic

—Vasundhara Raje, former CM Rajasthan

‘Attempt to mislead country’

“The Interim budget is a tool for BJP to address political interests and it consists no provision to boost up economy of the country. The government brought the interim budget as general budget but it failed to throw lights on previous accounts that reflects that the government once again has attempted to mislead countrymen. The biggest example of economic mismanagement is that the fiscal deficit has been reached to 3.4 from 3.3 percent and simultaneously current account deficit notched to 2.5 percent from 1.9 recorded previous year,”

—Sachin Pilot, PCC chief and Deputy CM

‘Bonanza for taxpayers’

The interim budget 2019 – 20 has provided bonanza to individual taxpayers. Doubling the limit for full tax rebate to Rs 5 Lakh, increase in standard deduction by Rs 10,000 with all additional deductions as before would provide a big relief, stimulate demand and overall economic cycle.

—Ashok Kajaria, Chairman, FICCI Rajasthan State Council

‘Boost for real estate and affordable housing’

While the rebate in income tax is likely to increase the spending capacity of those aspiring to buy new house, the extension of exemption for affordable housing is also another step towards the prime minister’s goal of housing for all. Public will now be at ease in buying a second property as government allows rollover of capital gain in two properties and waives notional rent tax for second self occupied property.