New Delhi:
The country’s Finance Minister Nirmala Sitharaman presented the budget of FY 2025-26 today. Middle class has been given great relief in this budget. The Finance Minister has given taxpayers discount on income up to Rs 12 lakh. What does this announcement of the Finance Minister mean for the middle class and how this budget will affect the country’s growth for the country, know what former Finance Minister P Chidambaram said about the budget?
Senior Congress leader P Chidambaram on Saturday alleged about the Union Budget that the government does not have any new idea and Finance Minister Nirmala Sitharaman does not want to make economic reforms like 1991 and 2004. In a conversation with reporters, he also said that in this budget, there has been an attempt to woo the middle class and Bihar voters and the rest of India has been given only consolation.
In the general budget system introduced by Union Finance Minister Nirmala Sitharaman for FY 2025-26, the annual income of up to Rs 12 lakh has been kept free from the tax scope under the new tax system.
Chidambaram told reporters, ‘It is clear from the budget that the BJP is trying to woo the voters of the taxpayer middle class and Bihar. He said, “These announcements will be welcomed by 3.2 crore taxpayers of middle class and 7.65 crore voters of Bihar. For the rest of India, the Finance Minister had only consolation words. ,
The former Finance Minister claimed that the allocation for social welfare, scheduled castes, scheduled tribes and minority communities has been reduced. He also alleged that the youth of the country have also been cheated in the budget.
According to Chidambaram, this government will continue to run on the old pattern, which will only see a growth rate of six or 6.5 percent in the upcoming financial year, which is much lower than the growth rate of eight percent required to make India a developed nation. The senior Congress leader said that the Finance Minister is not ready to make economic reforms like 1991 and 2004. He alleged that this government lacks new ideas and does not have the will to get out of its realm.