Tamil Nadu Congress Committee president K.S. Alagiri on Wednesday said the Union Budget protected the interests of Ambani and Adani, and it was made with an eye on the Assembly elections in various States and the 2024 Lok Sabha election.
In a statement, he said the rich in India, who own 70%-80% of the wealth, contribute just 3% towards the Goods and Services Taxes, and the Budget did not care to protect the interests of the poor. He said the Budget tried to satisfy the middle class by raising the personal income tax rebate without spending enough on infrastructure or agriculture.
“In 2022, the total debt had grown to ₹155.31 lakh crore, 2.77 times the debt in 2014. The debt owed by each citizen was ₹43,124 and this has increased to ₹1,09,373 in the last nine years. In the current fiscal, it has been decided to take a further debt of ₹12.31 lakh crore at an interest of ₹1,39,320 crore. This is the reason the Union government is unable to set aside money for important Ministries,” he said.
The AIADMK’s deposed coordinator, O. Panneerselvam, described the Budget as a forward-looking exercise, consistent with the vision of Prime Minister Narendra Modi. In a statement, he said the document placed “fiscal far-sightedness at the forefront and, at the same time, addressed the expectations of people”.
He welcomed announcements such as the establishment of 157 nursing colleges, provision of facilities in select laboratories of Indian Council of Medical Research for encouraging collaborative research and innovation, and promotion of research and innovation in pharmaceuticals.
PMK president Anbumani Ramadoss expressed disappointment with the reduced allocation under the Mahatma Gandhi National Rural Employment Guarantee Act. But he welcomed the increase in the personal income tax rebate limit [for those opting for the new tax regime], the decision to fully mechanise the cleaning of sewer and septic tanks and the 16% increase in taxes on cigarettes.
In a statement, he also welcomed the decision to set up 157 new nursing colleges. “The increase in agricultural loan to ₹20 lakh crore must be welcomed. However, the funds under the MGNREGA have been reduced to ₹60,000 crore. In 2022-23, around ₹89,400 crore was allotted… The total cost of providing work for 100 days to poor people will likely be ₹2.72 lakh crore. Allotting just 22% of this amount is not enough,” he said.
MDMK leader Vaiko said the allocation of ₹19,700 crore for the green hydrogen mission might result in encouraging hydrocarbon and methane projects in the Cauvery delta.
The AIADMK’s former interim general secretary, V.K. Sasikala, said the Budget had a mix of favourable and disappointing features.
In a statement, she welcomed the decisions such as increase in the target of agricultural loan to ₹20 lakh crore, introduction of a savings scheme for women with 7.5% interest rate and the extension of the benefit of standard deduction to assessees under the new regime of personal income tax. At the same time, she said those individual IT assessees, who had anticipated the rise in the exemption limit by ₹5 lakh, felt let down. Even though the limit for deposit of funds under the senior citizens savings scheme had been increased to ₹30 lakh, no tax relief was provided to them, she added.
AMMK general secretary T.T.V. Dhinakaran said even though the Budget had a few positive features, it did not address issues such as the economic slowdown and joblessness. In a statement, he welcomed such proposals as the additional allocation for a housing project, the special allocation for horticulture and the establishment of 157 nursing colleges. At the same time, the Budget was silent on the restoration of the train fare concession for senior citizens and special projects for Tamil Nadu.
VCK founder Thol. Thirumavalavan on Wednesday said the Budget was an ‘anti-people, sanathana’ document which would reduce funds for the development of SC/ST, OBC and minority communities and increase social inequalities in the country.
In a statement, he said that the Finance Minister Nirmala Sitharaman’s excited announcement of the raising the income tax rebate limit has been made with one eye on the State elections and Lok Sabha elections in 2024 and create a narrative that Indian economy was doing very well.