Ujjain (Madhya Pradesh): The Central India Chamber of Commerce and Industries (CICCI) and the Institute of Chartered Accountants of India (ICAI) have welcomed the provisions of the General Budget for the financial year 2023-24 presented by the Union finance minister on Wednesday. However, the Congress party has criticised the Budget terming it as a bundle of hollow promises.
In a joint release, the president and secretary of CICCI’s Ujjain branch Manaklal Giriya and Yashwant Kumar Jain, respectively, have described the Budget as an effort to make every sector happy, besides being a populist Budget. They said that the main thrust of the Budget seems to be the agriculture sector. Provisions have also been made to make the middle-class happy. They, however, observed that despite the provision of a new income tax slab the low-income persons would not get much benefit. They were also unhappy at the subsidised railway fair for senior citizens not being re-introduced. This facility was discontinued during the pandemic.
According to chairperson of the Ujjain branch of ICAI Rashi Jain, this year’s Budget has been made keeping all sections in mind. The Budget for the housing scheme for the poor has been increased by 66 per cent and the free ration scheme has been extended till next year. Pensioners and fixed-salary people whose income is Rs 15.58 lakh or more will get the benefit of Rs 52,500 instead of Rs 50,000 in the standard deduction.
Tax slabs were also changed after many years. Income of Rs 7 lakh will be tax-free. The Digital Library for Children and Adolescents is an exemplary initiative. The provision of a capital expenditure fund of Rs 10 lakh crore is very important for strengthening the infrastructure.
700 Eklavya residential schools will be opened for education, in which thousands of teachers will be recruited. Many important announcements have been made with the aim of promoting electric vehicles. Mahila Samman Bachat Patra scheme will be started for women, on which 7.5% interest will be given. 60 lakh jobs will be given under the PLI scheme. Overall, something or the other has been given in the Budget for every category, she added.
On the other hand, the Congress party has dubbed the Budget as a bundle of hollow promises. Pradesh Congress Committee spokesperson Vivek Gupta stated that the General Budget is a bundle of empty announcements by the Modi government. PM Modi has lost the trust of the people of the country by telling lies. Like the previous announcements, many schemes of this Budget will also prove to be a jumla, he said.
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