Essence of the Budget
While the Finance Minister finds enough money in her Budget to boost the country’s infrastructure or digital connectivity, it is strange that she has failed to provide much-needed relief to the middle, salaried and poor classes (Page 1, “Medium wave”, February 2). It would appear as if the Finance Minister had anything but sympathy for the masses who have faced the heavy impact of the COVID-19 pandemic. The Budget could exacerbate the divide between the rich and the poor. Economists agree that widespread inequality is one of India’s most pressing problems. It is also disappointing that there was no special COVID-19 surcharge on the rich.
Kangayam R. Narasimhan,
Chennai
One thought that the Union Budget would have had a human face, given the turbulent period the country faces. Alas! It has turned out to be a Budget with a virtual face. There is support for all things digital but an obliviousness to reality: an exponential rise in unemployment, widening economical inequality and disturbed livelihoods. Unless the immediate issues of lives and livelihoods are addressed properly, there is no use in focusing too much on the long term. In these difficult times, the rural employment guarantee scheme needs to be expanded, perhaps even to urban areas. The Budget fails to infuse confidence in a majority of people.
Dr. D.V.G.Sankararao,
Nellimarla, Andhra Pradesh
Those who have aired their views in support of the Union Finance Minister are generally business magnates. There is nothing new or novel about this. For the rest of us, we watched eagerly for the Finance Minister to announce an increase — even nominal — in the usual interest paid in bank fixed deposits. Instead, it was a disappointment. If the Centre can earmark crores to construct mega projects, it can surely find the will to raise interest rates.
Pandemic or otherwise, the spiralling cost of living confronts families.
Mani Natarajan,
Coonoor, The Nilgiris
The next 365 days alone will provide the answer to whether the Union Budget is really the substance of Amrit Kaal or not. Usually, there is a lot of word play and a tossing of digits but we seldom witness 100% realisation of the projections. Much more was expected by those who are unemployed and people in the agricultural sector. Reducing the cost burden of the farming sector should have been given better thought. Caution and precaution is needed where digital banking is being thought of. The most disappointing factor is of scarce relief for the income-tax assessee.
Govardhana Myneedu,
Vijayawada
While the Budget has received its fair share of bouquets and brickbats there can be no two opinions that the expectations of the salaried class have been belied again. We expected an increase in the tax exemption limit, a rise in standard deduction and a raising in the limit of ₹1.5 lakh under Section 80C. By leaving these sections untouched, the Government has shown its indifference towards the salaried class, which unlike the powerful corporate and agricultural sectors has no lobby to plead its case.
C.V. Aravind,
Bengaluru
There is no doubt a big boost for infrastructure and also a futuristic vision. But more pronounced is a betrayal of the social sector.
C.A.C. Murugappan,
Kothamangalam, Tamil Nadu
The Budget has been an extreme disappointment. There is high inflation but no tax breaks for the middle class. Criticism by the political Opposition and citizens is genuine. The promised ‘Acche din zaroor aayega’ is a mirage for the middle and salaried class.
Shivam Ambwani,
Ujjain, Madhya Pradesh
There has been the big push to capex, touted as the magic wand to set right all economic ills. But if one is to go by the track record of the government of the day, it inspires little confidence. It promised the moon in preceding years which turned out to be a dud.
Deepak Singhal,
Noida, Uttar Pradesh
The article, “A betrayal of the social sector when it needs help” (OpEd page, February 2), has sufficient data to prove that the resource allocation for schemes in the social sector in the Budget is a disappointment especially when only around 4.7% of India’s workforce is formally trained. According to UNESCO, 35% of the world’s illiterate population resides in India. Of greater concern is that a large chunk of the population, despite being educated, is still not sufficiently equipped or skilled enough to be absorbed productively in the workforce. India’s employability score is an estimated 46.2%. How can governments, in Budget after Budget, accord low priority in resource allocation to the social sector? There is such a strong link between economic growth and human development.
Rameeza A. Rasheed,
Chennai
