New Delhi, Feb 1: Finance Minister Nirmala Sitharaman today presented the Union Budget 2020 in the Parliament and vowed to revive domestic economic growth that has slumped.
The key announcements of the Budget include the new tax slabs, proposal to raise banks’ deposit insurance, LIC IPO launch, among others.
The government focused to boost the income of Indians and their purchasing power.
The key sectors like agriculture and rural development has been given Rs 2.83 lakh crore allocation, Rs 1.7 lakh has been allocated for the development of transport infrastructure, Rs 99,300 has been announced for education and Rs 60,000 crore has been allocated for healthcare.
While some political leaders of Odisha welcomed the Union Budget, some left no stone unturned to criticise.
It is a progressive and pro-people Budget, said Petroleum Minister Dharmendra Pradhan.
“It is a Budget with a vision, a Budget with an action plan for growth. This Budget is for farmers, poor, middle class and businesses,” said the Petroleum Minister.
The Budget lays emphasis on creating next generation financial markets, boosting income and investment and several reforms infrastructural reforms for accelerated economic growth, he added.
Odisha Chief Minister Naveen Patnaik welcomed Krishi Rail and Krishi Udan for a seamless national cold supply chain while he expressed concern over some issues.
“Odisha had requested for extension of Concessional Tax rates to Cooperatives in line with Corporate Tax cuts. We welcome the announcement of Concessional Tax rates for cooperatives,” Patnaik said.
However, Odisha Pradesh Congress Committee (OPCC) president Niranjan Patnaik criticised the Union Budget.
Budget 2020 is an anti-people Budget. It is full of rhetoric and lacks the depth required to tackle farm crisis, unemployment and the worrying state of healthcare. In the last six years, BJP has made life miserable for all, he said.