New Delhi: Bihar Deputy Chief Minister Tejashwi Yadav has said that the Center has ‘once again’ cheated Bihar with its budget, though it gave several MPs. By 2022 there will be a roof over the head, by 2022 at least 80 crore people will have jobs, but their jumlebaazi habit has not ended even in 2023. He has betrayed Bihar, which has given him many MPs,” Tejashwi Yadav said in his tweet in Hindi.
Meanwhile, JD(U) MP Rajeev Ranjan also termed the Union Budget 2023-24 as a “merchant of dreams” and said there are no measures to control inflation and unemployment mentioned in it. JD(U) MP Rajeev Ranjan said, “There is nothing in Budget 2023. It is like ‘dream merchant’ – nothing comes true when you wake up after a dream.” Nothing was said about how to control.” Talking to ANI.
Notably, most leaders of the opposition have criticized the budget presented in Parliament today, calling it “election-oriented” and “pro-corporate”.
Trinamool Congress (TMC) leader Shatrughan Sinha said the Union Budget presented in Parliament had a big focus on “Hum Do Hamare Do” and nothing special for the middle class people, while the Bahujan Samaj Party (BSP) Mayawati said that the budget presented in the last nine years with big promises and announcements on the common citizens has remained much the same.
Samajwadi Party (SP) leader Dimple Yadav also described the budget as “disappointing” and alleged that the government presented it keeping in mind the 2024 Lok Sabha elections. The income tax exemption limit has been increased from Rs 5 lakh to Rs 7 lakh, stating that the new tax regime will now be the default tax regime.
The Finance Minister also proposed to change the tax structure in this system by reducing the number of tax slabs to 5 and increasing the tax exemption limit to Rs 3 lakh.
On personal income tax, the FM announced that “Nil tax on income of Rs 0-3 lakh, 5 per cent tax on income above Rs 6 lakh for income above Rs 3 lakh and up to Rs 5 lakh”. Income up to Rs 9 lakh will be taxed at 10 per cent and above Rs 12 lakh and 20 per cent for income up to Rs 15 lakh and 30 per cent for income above Rs 15 lakh.
The finance minister also said: “Rs 3 lakh limit for tax exemption on leave encashment on government salaried employees.” It was fixed in 2002 when the government salary was low and now it is being increased to Rs 25 lakh.”
He also said, “The new income tax regime will now become the default option, but people will still have the option of going for the earlier regime.” The average processing time for income tax returns has been reduced from 93 days to 16 days.