Union Budget today: It’s poll year, Union Budget will rain goodies on MP, says Experts

Bhopal (Madhya Pradesh): Experts in the field of finance and economics have said that if Union Budget proposes policies boosting socio-economic development of tribals, road and railway infrastructure, food processing and millet cultivation, it will help Madhya Pradesh immensely.

On Tuesday, the eve of presentation of annual Budget for 2023-24 in Parliament, Free Press talked to finance experts in the city about their expectations from the budget regarding Madhya Pradesh.

Mahipal Yadav, Professor of Economics, Government College of Excellence: Madhya Pradesh had largest tribal population in the country and is an immense storehouse of traditional knowledge. It is also a major producer of millets. Therefore, policies aiding growth in these fields will help in state’s development.

The United Nations has declared 2022 as the International Year of Millets and the Government of India is laying stress on its cultivation and consumption. Millets like jwar and bajra are grown in the state. Union Budget is no longer about taxation. It is about policies. For the middle-class, it is income tax slabs.

Rajendra Kothari, former regional director of PHD Chambers of Commerce and Industries: Annual per capita income of India was almost 1.5 times of Madhya Pradesh. Similarly, the monthly income of farmers is about Rs 8,000 as compared to Rs 25,000 in Punjab. Why this difference? When we are paying the same taxes as the residents of other states, why should our income be low. Union Budget should address this issue.

Rajesh Jain, chartered accountant and ex-president of Bhopal Chapter of ICAI: Elections are due in the state this year and this is the last full-fledged budget of Union Government. Hence, we are sure that it will rain goodies for the state. Hope budget lays emphasis on infrastructure development. There is no question of any unfulfilled promises, as under the Modi Government, the date of inauguration of a project is fixed the day its foundation is laid.