Synopsis
In a recent editorial, Shiv Sena (UBT) criticized the Union Budget, highlighting that income tax exemptions for earnings below Rs 12 lakh do not genuinely benefit the middle class. The editorial warns of ongoing inflation and unemployment, asserting that the budget is politically motivated rather than aimed at national welfare.Key Takeaways
- The editorial criticizes the Union Budget's tax exemptions.
- It warns of persistent inflation and unemployment.
- The budget is seen as politically motivated.
- Only a small fraction of the population will benefit from tax exemptions.
- Concerns about women's and farmers' welfare are expressed.
Mumbai, Feb 3 (NationPress) The Shiv Sena (UBT) has criticized Union Finance Minister Nirmala Sitharaman in an editorial published in its official organ ‘Saamna’, particularly regarding the lack of tax on annual income up to Rs 12 lakh.
The editorial asserts, “It is a complete falsehood that the budget caters to the middle class.”
It warns the middle class to tread carefully, as inflation and unemployment are unlikely to diminish despite the budget proposals.
“There are claims that making income up to Rs 12 lakh tax-free will leave people with more disposable income and enhance their purchasing power, but this assertion lacks substantial truth.
“This budget will not alleviate inflation or unemployment. What is the value of this ineffective budget? It is nothing out of the ordinary; it is merely a political budget.
“With Assembly elections approaching in Delhi, Modi and Shah have already begun distributing freebies. Additionally, as elections loom in Bihar, funds and schemes have been allocated generously. Thus, this budget is fundamentally election-driven, rather than being beneficial for the nation,” the editorial contends.
“Consider how many individuals actually pay income tax in the country—approximately three-and-a-half crore people. Out of this group, two crore earn less than Rs 7 lakh, which means they already qualify for exemption. Of the remaining one-and-a-half crore, at most 80-85 lakh are salaried or employed. Among these, only 50 lakh earn around Rs 12 lakh. This leaves merely 60 lakh individuals who could benefit from the new tax structure, yet the government presents it as if 45 crore will gain from it,” the editorial mocks.
“The Modi administration previously introduced a women-focused budget, yet most women continue to wait in line for free rations. If 'beloved sisters' are being appeased with Rs 1,000-1,500 monthly in states like Goa, Maharashtra, Jharkhand, and Madhya Pradesh, can this truly be considered progress for women?
“The government touted a farmer-oriented budget, while farmers are on hunger strikes and protests to secure minimum support prices for their crops. Currently, farmers continue to hunger strike in Punjab and Haryana.
“An employment-centric budget was also promised, with the Prime Minister pledging two crore jobs annually. However, job scarcity persists in states governed by the BJP.
“Competitive exam papers are readily available for purchase. Unemployed individuals are protesting in various states, leading to police action,” the statement added.
“The government has now introduced a convoluted budget claiming to provide relief to the middle class. Thus, the middle class should remain vigilant. These politicians are adept at delivering a fatal blow while sugarcoating it,” it emphasizes.
“With inflation and unemployment soaring, people lack the means to spend. How can purchasing power be expected to rise? Although special provisions seem to favor Bihar in this budget, local leaders reject this notion.
“Today, many residents of Bihar migrate to other states for employment—a clear indicator of the severe employment crisis in the region. Other states are not receiving the same level of funding and development as Gujarat.
“Discussing Bihar, since aligning with PM Modi, the state received a financial package of Rs 60,000 crore in one year, yet not even Rs 60 crore has been allocated for development. Where has the Rs 60,000 crore gone?
“Since President Trump regained power in the US, he has seemingly aimed to spark an economic crisis in India. The Trump administration is adamant about deporting 1.7 million Indians from the US, which poses a significant threat to the Indian economy,” the editorial concludes.
