Shortly after Finance Minister Nirmala Sitharaman concluded presenting her seventh consecutive budget, the Congress on Friday said that FM’s budget speech was “more focused on posturing than action” even as the ruling BJP called it a dream budget for all sections, especially youth and women.
The Congress’ assertion came after Sitharaman in her budget speech announced that the government will launch three employment-linked schemes.
These schemes will be based on enrolment in the Employees’ Provident Fund Organization (EPFO), Sitharaman said in the Lok Sabha.
Taking to X, Congress general secretary in-charge communications Jairam Ramesh said, “After ten years of denial – where neither the non-biological PM nor his party’s Lok Sabha Elections Manifesto would even mention jobs – the Union Government seems to have finally come around to tacitly admitting that mass unemployment is a national crisis that requires urgent attention.”
“It’s far too late, and as it turns out, far too little – the budget speech is more focused on posturing than action,” he added.
Ramesh further claimed that Sitharaman has taken a leaf out of its 2024 Lok Sabha polls manifesto by announcing an internship programme but “in their trademark style”, the scheme has been designed to “grab headlines with arbitrary targets” rather than a programmatic guarantee.
Congress leader Shashi Tharoor said that it is an underwhelming budget and he didn’t hear anything about the key issues facing the common man.
“There is no mention of MNREGA, and insufficient mention of steps taken to improve the income of a common person. We have seen far too little from government on addressing income disparity. On job creation, a token gesture was made,” said Tharoor told reporters outside Parliament.
He, however, welcomed the abolishing of tax on angel investors.
“I had recommended it to Arun Jaitley more than 5 years ago,” he added.
While he welcomed the abolition of Angel Tax, senior Congress leader P Chidambaram took a swipe at the government, saying he is glad that the finance minister read the Congress 2024 manifesto after the Lok Sabha poll results.
In a post on X, Chidambaram said, “I am glad to know that the Hon’ble FM has read the Congress Manifesto LS 2024 after the election results. I am happy she has virtually adopted the Employment-linked incentive (ELI) outlined on page 30 of the Congress Manifesto.”
“I am also happy that she has introduced the Apprenticeship scheme along with an allowance to every apprentice spelt out on page 11 of the Congress Manifesto. I wish the FM had copied some other ideas in the Congress Manifesto. I shall shortly list the missed opportunities,” the former finance minister added.
Chidambaram said he was also pleased to hear that the Finance Minister will abolish the Angel Tax.
The Congress has pleaded for its abolition for many years and most recently in the Congress manifesto on page 31, he added.
Referring to the special assistance for Bihar and Andhra Pradesh, both NDA allies ruled states, SP chief Akhilesh Yadav said the special allocations have been made to save the government.
“…‘Sarkaar bachani hai toh acchi baat hai ki Bihar aur Andhra Pradesh ko vishesh yojnao se joda gaya hai’…They have increased unemployment in the last 10 years…,” he told reporters outside Parliament.
“Till the farmers’ issues are resolved and employment is ensured for the youth, the people will not benefit…,” he added.
Launching a scathing attack on the BJP-led NDA government, the Trinamool Congress said the Union Budget reflected the fiscal and political bankruptcy of the regime.
In a social media post, the party dismissed the term ‘Union Budget 2024’, renaming it as the ‘Andhra-Bihar Budget’.
Senior TMC leader Kunal Ghosh in a post on X said, “This budget should not be labeled as union budget. It is a budget to keep Andhra Pradesh and Bihar happy. To save one’s chair and keeping some others in good humour.”
Accusing the Modi government of neglecting West Bengal and replicating successful social welfare schemes pioneered by the Mamata Banerjee administration, Ghosh emphasised that the Budget failed to address the nation’s core issues and merely manipulated statistics and rhetoric.
Meanwhile, BJP leader and Union Minister Kiren Rijiju said this is a dream budget for all sections, especially for youth and women.
“… Capital expenditure of more than Rs 11 lakh crore has been allocated… Announcements for Bihar, Jharkhand, West Bengal, Odisha, Andhra Pradesh, and North-East will give a boost to the economy of Eastern India… Announcements for skilling and employment generation are historic… Support schemes for women are appreciated… Banking services in the northeast have been taken care of. Financial mainstreaming of the northeast will be done…,” he said.
He said PM Modi’s dream of Viksit Bharat by 2047 is clearly reflected in the budget.
“… If the opposition has criticised the budget means it is a very good budget… All sectors have been covered and it is a growth-oriented budget… You can see the tax rebates for the middle class… Bihar’s floods are not limited to Bihar, they are an issue of the country… Why is the opposition rattled at the grants given to Andhra Pradesh?” he asked.
Union Minister Jyotiraditya Scindia said every sector including agriculture, rural development, education, healthcare has been kept focussed in the budget.
“In the last 1 years, BSE Sensex has increased 20,000 points. Our economic growth has reached 8.2%, which has set a record in the world…,” he added.
Calling it a balanced budget, Union Minister Giriraj Singh expressed his happiness over the super package given to Bihar.
“This budget is a balanced one, having four pillars- women, youth, farmers, and poor. ‘Bihar mei bahaar hai, NDA ki sarkaar hai’. Bihar has been given a super-package,” he added.
Uttar Pradesh Chief Minister Yogi Adityanath termed the budget inclusive, development-oriented and one which will fulfil the aspirations of 140 crore people.
“Under the guidance of PM Modi, in the new parliament of the country, the finance minister has laid down the general budget of the country which is – inclusive, development-oriented and one which will fulfil the aspirations of 140 crore people. In this general budget, there is unlimited potential for development. In this budget, 1,52,000 has been given for the prosperity of the farmers and also more than 3 lakh crore for women’s empowerment. These are definitely going to help Uttar Pradesh… The new tax slabs announced in the budget are welcoming,” said Adityanath.
Sitharaman presented her seventh consecutive budget today, eclipsing the late Moraji Desai’s record of six consecutive budgets, who presented five annual budgets and one interim budget between 1959 and 1964 as finance minister. Desai, however, holds the record of presenting the most numbers of budgets at 10.
This was the much-awaited full budget for 2024-25, the first under the Modi 3.0 government.
Sitharamam had in February presented the interim budget, which took care of the financial needs of the intervening period until a government was formed after the Lok Sabha polls.
Sitharaman, who will turn 65 next month, was appointed as India’s first full-time woman finance minister in 2019 when Prime Minister Narendra Modi won a decisive second term. Since then, she has presented six straight budgets, including an interim one in February this year.
The budget session of Parliament began on July 22 and, according to schedule, will end on August 12.
With inputs from agencies
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