Union Budget 2021-22: Here is what Corporate & Political leaders had to say on FM Nirmala Sitharaman's proposals
Union Finance Minister Nirmala Sitharaman on February 1, 2021, presented the Union Budget intending to boost the Indian economy.
Union Finance Minister Nirmala Sitharaman on February 1, 2021, presented the Union Budget intending to boost the Indian economy. She started the budget speech with Rabindranath Tagore quotation "Faith is the bird that feels the light and sings when the dawn is still dark". Find below varied reactions by corporate and political leaders as well as other bodies. Here is what they said about the budget:
Anand Mahindra, Chairman, Mahindra Group in a tweet said, "In a time of unprecedented economic stress, the Govt's responsibility was to spend enough to revive the economy or else face enormous human suffering. So I had one expectation from this budget: that we should be very liberal in terms of the targeted fiscal deficit. Box ticked."
NASSCOM in a tweet said, "#Budget2021 | Big push for #startups! Eligibility for claiming tax holiday extended by one more year, till 31st March 2022. Extension of capital gains for 1 more year will attract more investment for startups."
In another tweet, it said, "#Budget2021 | Government committed to support and strengthen MSMEs - tax audit limit increased from Rs 5 crore to Rs 10 crore."
Bikas Mishra, senior advisor Indian Banks' Association expressed happiness saying recapitalisation of banks is a significant step taken by the Finance Minister.
Congress has criticized the budget alleging that it has only focussed on big corporates. Talking to reporters outside Parliament, senior party leader Shashi Tharoor said, this government has a track record of not fulfilling the promises and targets. He said, the centre has failed to meet the disinvestment targets continuously for the last few years.
Another party leader Gaurav Gogoi said, the budget has nothing substantial for the tea garden workers as promised by the central government earlier. Party MP Karti Chidambaram said that the budget has made false promises for poll-bound states and only promises have been made in this budget.
CPI leader Atul Anjan said opening up the insurance sector will be detrimental for the economy. Mr Anjan, however, welcomed the step taken for the citizens above 75 not to file income tax.
National Conference chief Farooq Abdulla said that the budget has nothing concrete for the development of Jammu and Kashmir. He said, the budget has made lots of big promises but it will be seen in the future, how they will be fulfilled.