Former Prime Minister Manmohan Singh on Friday, 1 February, said that the Modi government’s sixth and final Budget ahead of Lok Sabha polls was “an election budget.”
Speaking to NDTV, Singh said that the Budget, presented by interim Finance Minister Piyush Goyal, will have implications on the Lok Sabha elections due in April-May this year.
The government on Friday announced an array of big giveaways to appease the middle class, the farmers and the rural population.
The announcements in the Budget ranged from full tax rebate to individual taxpayers earning annual income up to Rs 5 lakh, to direct income support to vulnerable farmers.
“In these circumstances of the case, concessions to farmers and concessions to middle class will obviously have implications in the election,” Singh added.
Congress leader Mallikarjun Kharge echoed Singh’s views. He said that the interim Budget was an election manifesto and Modi government’s “bribe to voters.”
Meanwhile, Union Minister Arun Jaitley took to Twitter to compliment Goyal on the interim Budget.
BJP President Amit Shah also hailed the Budget announcements.
Key Announcements
- Individual taxpayers having annual income up to Rs 5 lakh will get full tax rebate
- Gratuity payment limit has been increased from Rs 10 lakh to Rs 20 lakh
- Defence budget has been enhanced beyond Rs 3 lakh crore
- Direct income of Rs 6,000 per year will be provided to farmers with up to two hectares of land
- Assured monthly pension of Rs 3,000 per month for workers in unorganised sector after 60 years of age
- Farmers severely affected by natural calamities will get two percent interest subvention and additional three percent subvention upon timely repayment
- TDS limit raised from 10,000 to 40,000 on bank savings and post office savings in Budget 2019
- Budget allocation to Northeast region increased by 21 percent to Rs 58,166 crore for 2019-20
- All income tax returns and refunds to be completed within 24 hours
- Single-window clearance for filmmaking will be made available to filmmakers
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