Union Budget 2024: 'Boring and lifeless' to 'forward-looking', here are some of the reactions to Sitharaman's speech
Finance Minister Nirmala Sitharaman on Tuesday presented her seventh budget and the third budget of the Narendra Modi government in Parliament. The budget, though it offered some relief to many, failed to live up to the expectations of most.?In her speech, Sitharaman outlined key priorities aimed at fostering economic growth and creating ample opportunities.?
Roadmap for Viksit Bharat vs Kursi Bachao Budget
The priorities include productivity and resilience in agriculture, employment and skilling, and services. While the BJP termed the budget as the roadmap for a "Viksit Bharat," the opposition called it a "Kursi Bachao Budget" due to its heavy focus on Bihar and Andhra Pradesh.
Also read:?These states found mention in Sitharaman's budget speech, here is what they are getting
What India Inc said?
Industry bodies reacted to the budget, saying Sitharaman has delivered a growth-oriented, inclusive budget maintaining fiscal discipline with a focus on job creation.
"The abolition of angel tax will give a big boost to our startups and young entrepreneurs, who are the job creators of the future. The commitment to speed up IBC resolution will lead to 12,000 businesses restarting operations and many more jobs," Vedanta Chairman Anil Agarwal said.
FICCI President Anish Shah termed the Budget 2024-25 as a "growth-oriented" one that has delivered both short-term demand stimulus and actions focused on medium- to long-term growth imperatives while maintaining fiscal discipline.
CII President Sanjiv Puri also described it as a "people-centric" budget that balances equitable growth with fiscal sustainability.
Boring, lifeless, and meaningless:?Ashneer Grover
BharatPe co-founder Ashneer Grover, however, was not impressed by the budget, which he felt was "boring, lifeless, and meaningless," and added that "another Ambani wedding function would be of more value."
Also read:?FM Nirmala Sitharaman junks angel tax, a shot in the arm for Startup Inc
Angel tax abolition gets thumbs-up?
While the Union Budget may have been a polarising one, if there was one thing that has been appreciated across the board, from the opposition to industrialists, it is the abolition of the angel tax.
¡°I was pleased to hear that the FM will abolish the angel tax. Congress has pleaded for the abolition for many years and most recently in the Congress manifesto on page 31,¡± Senior Congress leader and former Finance Minister P. Chidambaram said.
"I welcome only one provision, which is the abolishing of the tax on angel investors. I had recommended it to Arun Jaitley more than five years ago," Congress leader Shashi Tharoor said.
"The budget has also focused on the startup ecosystem and provided a fillip through the abolition of the ¡®angel tax,¡¯ which is aimed at spurring investments in startups, and the emphasis on ¡®ease of doing business¡¯ will benefit MSMEs," Kiran Mazumdar Shaw, chairperson of Biocon, said.
For more news and current affairs?from around the world, please visit?Indiatimes News.
