Budget only for rich, has nothing for poor: Congress' Mallikarjun Kharge

Criticising the Union Budget 2022-23 presented on Tuesday in the Parliament, senior Congress leader Mallikarjun Kharge took a jibe at the Centre and said it is a budget of Arjuna and Dronacharya, not Eklavya (from Mahabharata) as "it is only for the rich and has nothing for the poor."

Addressing a press conference, Kharge said, "Budget is only for the rich; has nothing for the poor. It's Arjuna and Dronacharya's budget, not Eklavya's,(from Mahabharata)."

The Congress leader also criticised the announcement by Finance Minister Nirmala Sitharaman during her address in the Parliament that income from digital asset transfers will be taxed at a rate of 30 per cent, a move being seen as 'crypto tax', and said that it does not have any law and has never been discussed in the Parliament before.

"They also mentioned cryptocurrency, which doesn't have any law, nor has it been discussed before; budget benefitting their friends," he further said.

Union Finance Minister Nirmala Sitharaman announced on Tuesday that income from digital asset transfers will be taxed at a rate of 30 per cent. This move is seen as 'crypto tax'.

Presenting the Union Budget 2022-23 in the Lok Sabha, Sitharaman said gifts received in the form of cryptocurrencies will also be taxed at the same rate.

Cryptocurrencies gifts will be taxed at the receiver's end.

"I propose to provide that any income from transfer of any virtual digital asset shall be taxed at the rate of 30 per cent. No deduction in respect of any expenditure or allowance shall be allowed while computing such income, except the cost of acquisition," Sitharaman said.

The Finance Minister also announced that the Reserve Bank of India will issue a digital rupee in the next financial year.

The Union Cabinet approved the Budget 2022-23 presented by Finance Minister Nirmala Sitharaman in Parliament.

Earlier today, Sitharaman met President Ram Nath Kovind ahead of the Budget presentation. She was accompanied by Ministers of State for Finance Pankaj Chaudhary, Bhagwat Karad and other officials from the Ministry.

Amid the ongoing coronavirus pandemic, replacing her signature 'bahi khata', she opted to carry the documents in a tablet, which was wrapped in a red-coloured cover with the national emblem emblazoned on it.

( With inputs from ANI )

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