National News
‘Disaster for common people’: Amit Mitra slams Union Budget
New Delhi, Feb 1: Dr Amit Mitra, Principal Chief Advisor to the Chief Minister and Finance Department of West Bengal, criticised the Union Budget on Saturday, saying it was “a disaster for the common people”.
Claiming that there is nothing for the common people in this budget, he told media, “It (Union Budget) has cut everything. Social services were cut by 16 per cent. Housing cut by 4.38 per cent. Welfare and scheduled cast and scheduled tribes were cut by over 3 per cent. Social services and welfare, very important for the common people, were cut by 5 per cent. Now what is interesting is that even food subsidy had been cut by 1 per cent.”
“And there’s nothing for the youth, women or farmers. Unemployment as you know, youth unemployment today is 46 per cent. Among them, 30 per cent are unemployed who are graduates. According to CMIE, as much as 37,000,000 people were unemployed between October and December,” the Principal Chief Advisor to the CM claimed.
On 100 per cent FDI allowed in insurance, Mitra said, “It is a challenge to all the public sector companies like LIC and a host of other insurance companies and including Indian private sector companies. Now while they are coming in, they’ll come in with a 100 per cent equity. When our state asks for GST on insurance, including life insurance, to be reduced from 18 per cent goods and services tax to 0 because it’s only punishing people who are taking insurance. The central government did not allow it. It postponed it. That leads me to the question. Is there some kind of a conspiratorial process here that foreign direct investors come in 100 per cent equity, but the GST remains at 18 per cent for insurance for the common people? Who benefits from this?”
Commenting on the manufacturing sector, he stated the survey has directly said the growth rate has been cut.
“Manufacturing is only 15 per cent of our GDP. And the promise was to take it to 25 per cent. What is there in the budget which is gonna take manufacturing to that 25 per cent target of Mr Modi? So how will you get higher growth? Naturally, growth is tumbling and conservative in its expectations. So what has the budget done for the common people? It has consistently cut,” Mitra stated.
Commenting on the new tax exemption limit announced in the budget, the Principal Chief Advisor to the West Bengal Chief Minister said, “Taxes from 7 lakh threshold have been raised to 12 lakh. So the income of 12 lakh level will not pay taxes, but remember inflation is rising and there is nothing in the budget to control inflation.”
Explaining the new tax exemption limit, he said, “Only 8 crore people pay taxes. Even if some proportion of those people gain a little bit, it’ll get eaten up automatically by inflation. That means your real gain is 0. This is the kind of very clever trick that the budget plays.”
Slamming the budget, he said, “What has it done for inflation? In fact, to keep the fiscal deficit at 4.4 per cent central government is again going to borrow almost Rs 15 lakh crore. So the debt of the country will keep going. So my conclusion, is nothing for the common people, nothing for the youth, only unemployment. Nothing for women of any significance, only words. Nothing for the farmers accepting some homilies.”
Mitra also alleged that there was a deep-rooted conspiracy indicated by a lot of experts on Saturday.
“Inviting 100 per cent equity of foreign direct investment insurance, but not cutting the GST tax on insurance, does it have a connection between the two? In this government between somebody or the other, an international lobby?” he questioned.
Maharashtra
‘Not A Single Mention Of Maharashtra Is An Outright Insult…’: Aaditya Thackeray Slams Union Budget 2025
Mumbai: Former Maharashtra minister and Shiv Sena (UBT) MLA Aaditya Thackeray has criticised the Union Budget 2025, highlighting the absence of any specific allocations for Maharashtra despite it being the highest tax-contributing state.
Responding to the Union Budget in a social media post, Thackeray pointed out what he sees as a stark contrast between Bihar’s prominent mentions and Maharashtra’s complete omission. “Not a single mention of Maharashtra is an outright insult to the state that contributes the highest taxes, including one of the highest GST consistently,” he said.
The former minister questioned the budget’s approach to unemployment, noting that while the government speaks about income tax rebates, it fails to address how citizens can earn enough to qualify for these benefits. “When unemployment is at its highest, there’s no mention of a solution to it,” Thackeray remarked.
On infrastructure development, Thackeray criticised the government’s capital expenditure plans, alleging a “contractor-based economy” where “favourite contractors get contracts” resulting in “horrible roads” on major Maharashtra highways. He highlighted that while rupees 11.1 lakh crores was proposed last year, only rupees 10.1 lakh crores were actually spent.
Regarding aviation infrastructure, Thackeray questioned the government’s UDAAN scheme announcement for 120 new airports, specifically noting the omission of Pune’s new airport despite local demand and representation. He also raised concerns about previously launched airports that have since ceased operations.
The Shiv Sena (UBT) leader also addressed everyday challenges facing citizens, including increased transport fares and food inflation. “The common person still grapples with a hike in State Transport Buses and auto rickshaw fare hike in Maharashtra. The people still face inflation in daily market buys like onion, tomato, potato,” he stated, questioning the government’s strategy to make essential items affordable without reducing farmers’ income.
In a pointed reference to BJP’s past promises, Thackeray sarcastically remarked on Bihar’s budget allocations, wondering if the state had received the rupees 1.25 lakh crores package promised by BJP in 2015 and subsequent promises made in 2024.
Maharashtra
Union Budget is just a maze of numbers: Maha Congress
Mumbai, Feb 1: Maharashtra Committee on Saturday claimed that the Union Budget is just a maze of numbers and mess, adding that the farmers are in crisis as they are protesting for the guaranteed price for their agricultural products but there has not been a single word about them in the budget.
“The highest number of farmer suicides are taking place in Maharashtra, while there is a demand for loan waiver for farmers, the BJP government has not announced loan waiver,” said Maharashtra chief Nana Patole.
He added that increasing the Kisan Credit Card limit from Rs 3 lakh to Rs 5 lakh will not benefit the farmers.
“Inflation is increasing at a high rate, unemployment has increased tremendously, and there is no concrete plan for job creation,” he said.
He added that the Union government has announced that there is no tax up to Rs 12 lakh in income tax, but there is confusion in it too.
“It seems that this announcement had to be made for the benefit of the salaried class and middle class after BJP’s chariot stopped at 240 against its slogan of 400 plus,” he said.
He said that instead of providing substantial funds in the budget for the MGNREGA scheme, which provides employment to the poor in rural areas, the funds have been cut.
“There is no substantial provision in the budget for two important sectors, health and education. The promise of providing two crore jobs every year was made in 2014, but in the last 11 years, not only have jobs not been provided, but there is the worst unemployment crisis. There is no concrete policy in the budget regarding employment generation and jobs. The common man has not been given concessions to fulfil his dream of housing and GST has not been reduced,” said Patole.
He said that Bihar was mentioned consistently in the budget but no other state including Maharashtra was mentioned.
“Bihar is going to have Assembly elections soon, so the Finance Minister has deliberately mentioned Bihar in the budget. The negative response of the stock market immediately after the budget was presented means that this budget has not met the expectations,” he said.
Meanwhile, the party general secretary Sachin Sawant said that the budget has made it clear that the direction of economic policies has been wrong for the last ten years and the policy of the Congress party was right.
“For the last ten years, the government was focused on increasing supply. Corporate tax was reduced by Rs 1.5 lakh crore, but corporate profits did not increase and employment did not increase. Even though corporate loans were written off by banks, neither private investment nor exports increased. During this period, the current account deficit increased and the trade deficit did not decrease,” he said.
He added that the foreign direct investment, which was 3.6 per cent of the gross domestic product during the UPA government, came down to 0.8 per cent.
“Foreign institutions are fleeing the stock market as corporates are not making profits. However, the purchasing power of the people has fallen to its lowest level in the last twenty years,” said Sawant.
He added that the Modi government is the most failed, policy paralysed and economically ignorant government.
“It is clear how far the concept of a developed India is due to their inefficiency and how the monster of unemployment and inflation as well as huge economic inequality is swallowing the common man,” he claimed.
National News
Union Budget: Over Rs 6.81 lakh crore allocated for MoD, defence pension increased by 14 pc
New Delhi, Feb 1: The Union government allocated over Rs 6.81 lakh crore to the Ministry of Defence (MoD) on Saturday and further increased the defence pension by 14 per cent.
An official of the MoD said that In pursuance of Prime Minister Narendra Modi-led government’s vision of ‘Viksit Bharat @ 2047’, with technologically advanced and ‘Aatmanirbhar’ Armed Forces, the Union Budget has made a provision of Rs 6,81,210.27 crore for Financial Year (FY) 2025-26 for the Ministry of Defence.
“This allocation is 9.53 per cent more than the Budgetary Estimate of FY 2024-25 and stands at 13.45 per cent of the Union Budget, which is the highest among the ministries,” the official added.
He said that out of this, Rs 1,80,000 crore i.e. 26.43 per cent of total allocation will be spent on Capital Outlay on Defence Services.
“On Revenue Head, the allocation for the Armed Forces stands at Rs 3,11,732.30 crore which is 45.76 per cent of total allocation. Defence Pension receives a share of Rs 1,60,795 crore i.e. 23.60 per cent and a balance of Rs 28,682.97 crore i.e. 4.21 per cent for civil organisations under MoD. The Ministry has taken a decision to observe 2025-26 as the ‘Year of Reforms’ which will further strengthen the resolve of the government for the modernisation of the Armed Forces and is aimed at simplification in the Defence Procurement Procedure to ensure optimum utilisation of the allocation,” he said.
Addressing the media in New Delhi, Defence Minister Rajnath Singh congratulated Finance Minister Nirmala Sitharaman for presenting a budget to fulfil the Prime Minister’s resolve of Viksit Bharat.
“This budget will promote the development of youth, poor, farmers, women and all other sections of society. Recognising the contribution of the middle class, the budget has brought an unprecedented gift,” said the Defence Minister.
Meanwhile, the official said that Rs 1,80,000 crore has been allocated to the Capital Outlay of the Defence Forces.
“This allocation is 4.65 per cent higher than the Budgetary Estimate (BE) of FY 2024-25,” the official said.
He added that Out of this, Rs 1,48,722.80 crore is planned to be spent on Capital Acquisition, termed as the modernisation budget of the Armed Forces and the remaining Rs 31,277.20 crore is for capital expenditure on Research & Development and the creation of infrastructural assets across the country.
The ministry said that for FY 2025-26, Rs 1,11,544.83 crore i.e. 75 per cent of the modernisation budget has been earmarked for procurement through domestic sources and 25 per cent of the domestic share i.e. Rs 27,886.21 crore has been provisioned for procurement through domestic private industries.
The ministry further added Rs 3,11,732.30 crore has been allocated for this purpose which is 10.24 per cent higher the than budgetary allocation of FY 2024-25.
“Out of this, Rs 1,14,415.50 crore has been allocated on account of non-salary expenditure which will facilitate procurement of ration, fuel, ordnance stores and maintenance/repair of equipment etc,” he said.
The ministry further added that under the Salary Head of revenue expenditure, Rs 1,97,317.30 crore has been allocated to take care of Pay & Allowances of the three services and any further requirement will be addressed during mid-year review.
It said that the budgetary allocation to the Defence Research and Development Organisation (DRDO) has been increased to Rs 26,816.82 crore in FY 2025-26 from Rs 23,855.61 crore in FY 2024-25 which is 12.41 per cent higher than the BE of 2024-25.
“Out of this, a major share of Rs 14,923.82 crore has been allocated for capital expenditure and to fund the R&D projects,” it said.
To encourage start-up the ecosystem for innovation in defence, Rs 449.62 crore has been allocated to the iDEX scheme, including its sub-scheme Acing Development of Innovative Technologies with iDEX (ADITI) to be utilised for funding the projects to be taken up under this scheme.
The ministry said that allocation in this head shows a jump of almost three times in two years.
The ministry also informed about the government’s resolve for ex-servicemen welfare and in the ensuing FY, Rs 8,317 crore has been allocated towards ECHS which is 19.38 per cent higher than BE of FY 2024-25.
“During the mid-year review in the current FY, additional allocation was made to meet the emergent requirements of medical treatment-related expenditure,” the ministry said.
The ministry further informed that there are approximately 34 lakh defence pensioners whose monthly pension is met out of the Defence Pension Budget.
“In order to further enhance the Defence Pension for the Armed Forces, One Rank One Pension (OROP) was implemented w.e.f. July 2014. Since then, it is revised after every five years. Third revision under OROP came into effect from July 2024 and it was timely implemented,” the ministry said.
It added that considering elements of expenditure under Defence Pension, Rs. 1.61 lakh crore has been allocated for FY 2025-26, which is 13.87 per cent higher than the allocation made during FY 2024-25.
The ministry also informed that that the Indian Coast Guard (ICG) has been allotted Rs 9,676.70 crore under Capital and Revenue Head which is 26.50 per cent more than the allocation for FY 2024-25 at the BE stage.
“A jump of 43 per cent in Capital Budget i.e. from Rs 3,500 crore for FY 2024-25 to Rs 5,000 crore for FY 2025-26 will provide adequate financial space for the acquisition of Advanced Light Helicopters (ALH), Dornier Aircraft, Fast Patrol Vessels (FPVs), Training Ships, Interceptor Boats etc. On revenue head, the allocation has been increased from Rs 4,151.8 crore for FY 2024-25 to Rs 4,676.70 crore for FY 2025-26 which shows an increase of 12.64 per cent,” the ministry said.
For strengthening the border infrastructure and to facilitate the movement of Armed Forces personnel through tough terrains, Rs 7,146.50 crore has been allocated to the Border Roads Organisation (BRO) under the capital head which is 9.74 per cent higher than the BE of 2024-25.
-
Crime2 years ago
Class 10 student jumps to death in Jaipur
-
Maharashtra4 months ago
Mumbai Local Train Update: Central Railway’s New Timetable Comes Into Effect; Check Full List Of Revised Timings & Stations
-
Maharashtra4 months ago
Mumbai To Go Toll-Free Tonight! Maharashtra Govt Announces Complete Toll Waiver For Light Motor Vehicles At All 5 Entry Points Of City
-
Maharashtra4 months ago
False photo of Imtiaz Jaleel’s rally, exposing the fooling conspiracy
-
National News4 months ago
Ministry of Railways rolls out Special Drive 4.0 with focus on digitisation, cleanliness, inclusiveness and grievance redressal
-
Crime4 months ago
Baba Siddique Murder: Mumbai Police Unable To Get Lawrence Bishnoi Custody Due To Home Ministry Order, Says Report
-
Maharashtra3 months ago
Maharashtra Elections 2024: Mumbai Metro & BEST Services Extended Till Midnight On Voting Day
-
National News4 months ago
J&K: 4 Jawans Killed, 28 Injured After Bus Carrying BSF Personnel For Poll Duty Falls Into Gorge In Budgam; Terrifying Visuals Surface