Today's morning gave the news channels a hot topic to rebate and debate. In fact, if you switch on the television set at this very moment, you will find only one thing being discussed - the Union Budget.
Our very own Finance Minister, Arun Jaitley announced the 2018 budget, which is not so different from the previous ones. The lower class got subsidy, the upper class got rebates and the middle class once again got just debates!
The budget has unveiled the world's largest healthcare initiative, through which 50 crore people would get free health care benefits up to INR 5 lakh per family. It has also increased the MSP(maximum selling price) of all crops by at least 1.5 times the production cost. The corporate tax rate has also been cut down to 25%.
But wait. Is there anything that benefits the majority of middle class Indian? Sadly, no. Budgets in India may be good or bad. But, they got nothing for the middle class. This one is 'Pakoda Budget' with 'Hajmola Yojnas'.
The budget proposals should have been bold and radical. Unfortunately, they are a big let down.
- P Chidambaram
This ignorance of the middle class in the financial budget is an evident proof that FM deliberately failed the fiscal consolidation test. Here is how Twitter responded to the Annual budget, showing its anger and frustration.
1. Don't be a salaried person
Worst Budget for Salaried Person, No change in IT Slab. We need to pay IT for Earning and GST for Purchasing....Paying all salary to Govt, we can walk with Digital India Catds...#Budget2018— S Balasubramanian (@Chocutebala) February 1, 2018
2. Stop driving cars and bikes
3. Pakoda making is still a bad option
No subsidy on Pakoda making announced. Poor Budget. #Budget2018— Pakoda Republic (@make_itpossible) February 1, 2018
4. Forget digital India
@FinMinIndia When the govt motto is to boost digital india, digital economy, govt should make sure that mobiles, laptops and broadband are cheaply available. However revision of import duty doesnt help your motto. Dont think 5% increase will boost @makeinindia #Budget2018— Chaitu Val Kan O (@chaitanyakanth) February 1, 2018
5. Jobs still not there
Corporate tax reduced to 25% for all companies with turnover upto 250 crores. But no change in personal income tax slab of salaried employees. Why sir ??? #Budget2018 #CommonManKiBaat #BudgetWithNews18 #ModiKaBudget— Samir Abbas (@TheSamirAbbas) February 1, 2018
6. No need to have a toilet
If you are pissed with Union #Budget2018 Then try considering 2 crore new toilets to be built by Government under Swachh Bharat Abhiyan.— Shivam Verma (@shivamverma1988) February 1, 2018
7. Stay away from cryptocurrencies
8. But, move out of the middle-class
Since I'm Born, I've seen Two Different Type of #Budget of Two Contrarious Political Party, but one Thing Usual in Them :— Gaurav Mishra |(@OfficialGaurab) February 1, 2018
1. During @INCIndia, Nobody Gave A Fuck To Middle Class.
2. During @BJP4India, Still No Fuck.#NewIndiaBudget#Budget2018 #FinanceMinister #ArunJaitley
9. Thank god that it was their last budget
There were a lot of expectations from the budget but the budget only gave the middle class a lesson to stop expecting. With the focus on farmers, BPL citizens, promoting SMEs, the New India Budget is a 'pakoda budget' for the common man.
There is no tax relief to the average tax-payer. There was nothing in the Budget to boost private investment. There was nothing in the Budget to encourage banks to lend, and investors to borrow, for new investment.
Do you think they can run this country by slaughtering the middle-class and giving freebies to the poor and rebates to the rich?