The Union Budget for Financial Year 2016-17 was largely hailed by people of Jharkhand. Though political parties expressed their varied opinions, trade bodies and the people from middle class lauded the Budget.
Jharkhand Pradesh Congress Committee Chairperson Sukhdeo Bhagat termed the budget disappointing and price rise booster. He said the budget was directionless as the Government was confused over the issues. According to the Congress leader, there was no point in Government’s efforts to control the budget deficit until and unless measures are taken to create more jobs.
“Investment target also does not appear to be realistic as the Government has failed to attract investors, resulting into decreasing job opportunities in the Country. Only four hundred crore more funds were given MNREGA, the biggest job providing programme in the rural sector,” Bhagat added. Giving no relief in the income tax slab was itself was a signal that the Government was least concerned towards the middle class, he said.
Rajya Sabha MP Parimal Nathwani, on the other hand, said that the budget was encouraging for agriculture, rural, social, infrastructure and health sectors. Provision of Rs 35,000 crore has been made for agriculture sector and Rs 20,000 crore has been allotted to bring in 28 lakh hectare land under irrigation during the financial year. The Finance Minister has made a provision of Rs 87,757crore for rural development which expresses government’s commitment for the development of the rural India.
“There is provision for electrification of 100 per cent villages by May 2018, which is very important provision for rural community. The budget will encourage entrepreneurs belonging to SC/ST and help in bringing in social equality in the country. The tax relaxation for startups and MSME sector will help in generating more employment opportunities in the country,” said Nathwani. Besides, allocation of Rs 2,000 for providing lPG to BPl families in the country will not only provide health benefits to the women but also save time.
The Federation of Jharkhand Chamber of Commerce and Industries (FJCCI) president Pawan Shama also called the budget as balanced and praiseworthy. “Announcement of increasing the house rent allowance limit from Rs 24,000 to Rs 60,000 and depositing employee’s share of Provident fund for three years by the Government is really laudable,” said Sharma. Adequate attention has been given to basic infrastructure, improving financial areas and tax improvement which will ultimately benefit the common man and no direct tax has been imposed on the businessmen, this must be welcomed, added Sharma.
Indian Chamber of Commerce (ICC) also feels that the Union Budget 2016 – 17 presented by Finance Minister Arun Jaitley was a balanced one. “Major thrust has been given to Nine Sectors: Agriculture and Farmers Welfare, Rural Employment and Infrastructure, Social Sector including healthcare, Education, Job and Skill Development, Infrastructure and Investment, Financial Sector Reforms, Ease of Doing Business and good governance, Fiscal discipline and Tax reforms to reduce compliance burden,” said Director General of ICC Rajiv Singh.
AJSU Party, reacting on it said that this budget was a blueprint to bring the nation forward on the path of development. This budget has primarily been focused on agriculture, irrigation, rural roads, and social and health guarantee. “Now, it needs to be assured to put these programmes on the ground,” said AJSU Spokesperson Deo Sharan Bhagat.
Calling the budget as the budget for all, former Chief Minister Arjun Munda said that it will bring happiness to the faces of people from all walks of life. Expressing his reaction over the budget for the fiscal year 2016-17, Munda said that IIT status to ISM Dhanbad was a precious gift for the people of this state. One lakh of insurance cover for the poor will also provide relief to them, he added.
City based businessmen Vivek Bhasin and Subhabnkar Banerjee have also welcomed the budget and have opined that there was nothing new in the budget to give immediate relief to the people, but it has been planned in such a way it will put a positive impact on the future of this Country.
“Stress has been given on development of roads and rural areas so that the dream of developed and prosperous India could be made true in future,” said Bhasin.
“It was a budget prepared in such a way that it will put great impact on the future of this Country. Although, it is not a populist budget, there is something for everyone in this budget which is far from the understanding of a common man,” added Banerjee.