The 2017-18 budget was a highly anticipated one, but our hopes have resulted merely in a pre-election budget with no substance. We expected tax rebates and cheaper loans but the rebate provided may not prove too beneficial.
The union budget is a clear indication that the government’s grand demonetisation plan has been a total failure. The great opportunity to make a radical change has been lost and it sounds like a regular budget with no growth stimulus.
The two areas where they failed are job creation and the proposal to recover from the demonetisation. The trade and industry continue to suffer.
The IT tax rebate to individuals, small, medium and enterprises is a welcome move. However, the extra tax revenue could have provided them some cushion to write off loans of farmers.
Reducing donations to the political parties from Rs 20,000 to Rs 2,000 is just an eyewash. Multiple receipts in fictitious names will be given against the receipt of donations. It is typical of the BJP to say things that sound good but are meaningless!
Prime Minister Narendra Modi boasts recovering 25 to 30 per cent of black money but nothing more has been said about it. No scope is given for skill building in the budget and not a single mention has been made about depositing money into the jan dhan account.
— Prithvi Reddy, National Executive, Aam Aadmi Party (AAP)
