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No measure to reduce inflation
Abhay Taksal (State Executive Member, CPI): The budget is disappointing to the expectations of workers, farmers and unemployed youth. There is a tax exemption for the middle class but they are suffering from inflation. Also, the income of the middle and lower middle classes has decreased. The schemes were brought keeping in mind the Delhi elections. Privatization of public-owned industries is going on in full swing.
Big announcements were made about MSME but the industries were closed due to GST and other government measures. Today's budget is unfair to the workers.
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No thought on empowerment of poor, youth & farmers
Dr Jitendra Dehade (State General Secretary, Congress): Without any implementation of the budget presented in July, this budget was presented. There does not seem to be any concrete thought given to the empowerment of the poor, youth, farmers and women.
In short, the general public is not likely to benefit from this budget in terms of direct benefits, but it would have been more enjoyable if this budget had been presented with a pure (Nirmal) heart.
Big relief to taxpayers
(Ghous Quazi, financial expert): The introduction of major tax relief under the New Tax Regime in the budget. Individuals earning up to Rs 12 lakh annually will now pay zero tax, resulting in savings of approximately Rs 83,000. Additionally, salaried individuals will benefit from the standard deduction of Rs 75,000, potentially boosting total savings to around Rs 95,000. Measures like enhancing Tax Deducted at Source limits and providing greater financial security to senior citizens for deposit holders,
are set to increase disposable income, encourage savings, and drive economic growth.
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Provision for AI research
Shaikh Rahim (teacher): In the budget, a provision of 500 crores for the new AI Centre of Excellence (CoE) was made. The CoE will collaborate with top educational institutions, and research organisations to develop AI models for various educational needs. Those who pay tax honestly have been given a big relief this time. Those whose normal income is up to 12 lakhs, excluding capital gains, will be given a tax rebate. Therefore, they will not have to pay taxes. A big announcement has been made for taxpayers in this union Budget.