New Delhi: CPI(M) general secretary Sitaram Yechury on Tuesday questioned the government on the purpose of Union Budget 2022 and asked why the wealthy have not been taxed further.
The budget, presented by Finance Minister Nirmala Sitharaman, does not tinker with personal income tax rates. It also does not raise standard deduction, which was widely anticipated in view of elevated inflation levels and impact of the pandemic on the middle class. "Budget for whom? The richest 10% Indians owns 75% of the country's wealth. Bottom 60% own less than 5%. Why are those who amassed super profits during the pandemic, while joblessness, poverty & hunger have grown, not being taxed more?" Yechury asked in a tweet.
Meanwhile, The Congress on Tuesday accused Finance Minister Nirmala Sitharaman and Prime Minister Minister Narendra Modi of betraying the country's salaried and middle classes by not announcing any relief measures for them in the Union Budget.
Congress general secretary and chief spokesperson Randeep Surjewala said the salaried and the middle classes have been affected due to pay cuts and high inflation.
"India's salaried class and middle class were hoping for relief in times of pandemic, all round pay cuts and back breaking inflation. FM and PM have again deeply disappointed them in Direct Tax measures," Surjewala said on Twitter.
"This is a betrayal of India's Salaried Class and Middle Class. #Budget2022," he said in his initial remarks on the Union Budget.
Terming the document a "Nothing budget", he said in a Twitter post in Hindi that it has nothing for the poor, the salaried and the middle classes as well as farmers and the youth "whose pockets are empty". There is nothing, he added, to increase spending and to promote small scale industry.
Congress leader Rahul Gandhi Tuesday slammed the Centre over the Union Budget and said that it does not have anything for the salaried class, middle class, poor, youth, farmers and MSMEs.
"M0di G0vernment's Zer0 Sum Budget! Nothing for--Salaried class--Middle class--The poor and deprived--Youth--Farmers--MSMEs," tweeted Rahul Gandhi.
Union Finance Minister Nirmala Sitharaman on Tuesday tabled Union Budget 2022 in the Lok Sabha and later in Rajya Sabha.
While presenting the Budget in the Lower House, the Finance Minister said that India's economic growth in the current year is estimated to be 9.2 per cent, the highest among all large economies. She also said that Union Budget 2022-23 seeks to lay the foundation and give a blueprint of the economy over the next 25 years.
