Budget analysis The Pros and Cons

The highlights of the budget is being provided here. A complete analysis report briefing the pros and cons of the same would be updated here very soon. 

• Total Expenditure estimated Rs.39.45 lac crs
• 80 lakh EWS houses for the eligible to become ready. Rs.48000 crs allocated to PM aavas yojana (It is one of the biggest dream of PM Modi to provide house for every family in India by 2022. Lot many of them had been provided with their respective homes and this is continuous of the same to provide the last homeless too a home). 

• 400 new Vander Mataram express train services to start in 3 years. (From the very first year in office Modi Government had focused in improving the trains cleanliness, the standard of appearances of train coaches and the facilities and convenience of the passengers. A few sample trains were introduced initially and now all set to transform the journey of train passengers in India).
• Auction of 5G spectrum and Roll out of 5G will take place in 2022. (This would prove to be a giant leap forward for the corporate and business world especially, not to mention ordinary citizens as, 5G means fastest functioning of electronic equipments associated with it, which in turn will save time, bring in more productivity, higher growth). 
• 25000 kms of new NH (National Highways) roads to be built in next one year. (from 15 to 16 kms per day road during 2013, it was taken to 25 kms per day in 1st year, 34 to 36 kms during 2016 2017, 2018 years, and crossed 50 kms road per day target during Lockdown months. The new target which was beyond imagination a few years ago has become easily achievable, thanks to sheer determination of Nitin Gadkari our Minister for roads and transportation. 
• 2 lakh anganwadi centres will be upgraded
• 750 new E- lab to be opened all over the country. 
• Pension income will be tax-free. (Much needed respite for the senior citizens of our country as they can spend their rest of their life a little more happy and comfortable. 
• E-Visa and by 22-23 E-passport will be issued(Passport having an electronic chip) (More convenient for exporters, international traders, NRI's and international tourists as they will enjoy more convenient and hassle free tours). 
• Push will be given for E- vehicles with more charging stations all over the country.  (Greatest and much needed initiative to make our planet earth breath easier. Till a few decades ago though every nation in the world used to register their serious apprehension towards global warming and ozone hole concerns, nothing concrete on ground in the form of action was ever taken. Indian PM's initiatives since the 1st day in the office has not only put India in one of the 1st country in reducing carbon emissions well before the target, entire world is looking towards India to lead the world). 
• ATM facility to start in every post offices too with the merger of Postoffices with Banks. (The banking facilities would be extended to remotest of remote parts of the country through this masterstroke decision without wasting huge amount for the same. 
• Drone technology to introduce for spraying fertilizers for agriculture sector. 
• Ek Desh ek Registration will be introduced. (A prescription towards the cure for many maladies prevailing in our nation) 
• IRDA Bima bond will be issued. 
• Governments systems will promote more E-bill options. 
• Focus on switching public transports into EV (Electric Vehicles). (Again a great move, much needed initiative not only to achieve zero carbon emissions and to reduce global warming but to save forex drainage towards fuel imports. 
• SEZ will draw new laws. (SEZ to be Customs and IT Driven. ONLY Risk based checks by 30th Sept 2022) 
• Private companies will tie up with DRDO. (This excellent decision will encourage more production units in India, especially defence products as finance will no more an issue. This will further help "Atmanirbhar bharat" saving forex drainage, increase in exports and lot more. 
• Defence budget will be increased by 25%. (Welcome step as India need to invest heavily to strengthen its defence for next 10 more years so that India could become a super power in true means in both economic and military) 
• Defence sector will be modernized. (It has become inevitable especially after 10 years of negligence in this sector from 2004 to 2014). 
• Dalit farmers will be taken due care separately by government. 2.7 lac crs as MSP payments to Farmers.
• Women provided 3 special welfare scheme. 
• Solar power generation would be given more Thrust. (Rs.19500 allocated to PLI for manufacturing of high efficiency solar modules) India has become a leader in renewable energy and all set to decrease depending on fossil fuel. 
• Startups will enjoy tax-free for one year. (Period of Tax Incentive for Start Ups extended to 31.3.23). 
• Cryptocurrency income will be 30% taxable. Virtual Digital Asset to be taxed at 30%. No deduction except certain cost. Tax on income or transfer from virtual asset @ 30%. Losses can not be set off
• Leather items will be cheaper. 
• Agricultural items will be cheaper. 
• Electronic products cheaper. Mobile phones, charger and other electronics items to be cheaper. 
• Clothes will be cheaper. 
• IT returns could be amended for any mistakes within 2 years. (New Updated ITR On payment of additional tax within 2 yrs of AY. This will reduce the stress on the CA as well as the Income tax payee).
• 80 kms long various rope ways in various parts of the country.
• Gems & Jewellery Customs Duties reduced. Custom Duty on Diamonds polised are reduced to 5%.
• Methanol and other acids Customs duties for manufacturing petrol reduced. 
• Steel Scrap Customs Duty exemption extended.
• Import Duties on various Duties reduced.
• MAT Reduced for Co Operatives - 15%. Surcharge reduced to 7% for those having income between 1Cr - 10 Cr
• Manufacturing Co. Time of starting operation extended to 31.3.24. (Aims to create 40 lakh new jobs). 
• Gift also taxed in hands of recipient. TDS @1%
• Appeal Management - Dept not to file appeal incase of similar matter pending in HC/SC
• LTCG Surcharge capped at 15% 
• Cess not allowable as Business Expenditure
• Deduction for Contribution to NPS tier 1 scheme has been increased from 10% to 14% for state govt. Employees
• MSME Gurantee cover expand by Rs.50000 crs
• 5 lac crs allocated for Hospitality sector
• Rs.20000 crs Boost for Transportation.
• Tax on Co -op Society Tax 15% from 18 % and Surcharge Reduced to 7%. 
• NPS contributions limit for State and Central Govt employee from 10% of salary to 14%.
• Capital Expenditure outlay raised by 35.4% to 7.5 lac crs* 2.9% of GDP. Effective Capex seen at 10.7 lac crs
• Fiscal Deficit seen at 6.4% of GDP
• Proposed to introduce Digital Currency using Blockchain by RBI. 

आज के बजट की विशेषताओं विशिष्टताओं. आज केवल यही कहूंगा कि मोदी सरकार के इस बजट में उस भारत की छवि स्पष्ट दिखायी दे रही है, जैसा भारत हर भारतीय चाहता है। 

वित्तमंत्री निर्मला सीतारमण द्वारा आज वित्तीय वर्ष 2022-23 का 39.44 लाख करोड़ रूपये का बजट प्रस्तुत किया गया है।

 

आज से 9 वर्ष पूर्व अपने 10 वर्षीय शासनकाल के अंतिम वित्तीय वर्ष 2013-14 में कांग्रेसी यूपीए द्वारा 16.65 लाख करोड़ का बजट प्रस्तुत किया गया था। अर्थात अपने शासनकाल के नौवें वर्ष में मोदी सरकार यूपीए सरकार की तुलना में उससे 22.79 लाख करोड़ रु (137%) अधिक खर्च करने जा रही है।

अगर यह सच है तो कांग्रेसी यूपीए शासनकाल की तुलना में मोदी सरकार को 22.79 लाख करोड़ रुपये अधिक खर्च करने के लिए कौन दे रहा है.❓ इतनी बड़ी राशि उसे कौन दे रहा है.❓ अब यह भी समझिए...

कांग्रेसी यूपीए के अपने अंतिम 5 वर्षीय शासनकाल (2009-14) के दौरान प्रस्तुत 5 बजटों में कुल मिलाकर 1.14 लाख करोड़ रुपए कृषि मंत्रालय को दिए थे। जबकि केवल इस एक वर्ष के बजट में ही मोदी सरकार ने 1.24 लाख करोड़ रुपए कृषि मंत्रालय को दिए हैं।

कांग्रेसी यूपीए के अपने अंतिम 3 वर्षीय शासनकाल (2011-14) के दौरान प्रस्तुत 3 बजटों में कुल मिलाकर 5.61 लाख करोड़ रुपए रक्षा मंत्रालय को दिए थे। जबकि केवल इस 'एक वर्ष' के बजट में ही मोदी सरकार ने 5.25 लाख करोड़ रुपए रक्षा मंत्रालय को दिए हैं।

अपने शासनकाल के अंतिम वित्तीय वर्ष 2013-14 में कांग्रेसी यूपीए की सरकार ने स्वास्थ्य मंत्रालय को 37.33 हजार करोड़ रुपये दिए थे। जबकि इस एक वर्ष के बजट में ही मोदी सरकार ने 86.60 हजार करोड़ (133%) अधिक रुपए स्वास्थ्य मंत्रालय को दिए हैं।

ऐसे तथ्यों की सूची बहुत लंबी है जो यह बताती है कि यूपीए शासनकाल की तुलना में कितना मोदी सरकार कितना अधिक धन देश पर खर्च कर रही है। 

 

अंत मे उस आलोचना का उल्लेख  आवश्यक है जिसका ढोल बजट भाषण की समाप्ति के साथ ही NDTV के नेतृत्व में न्यूजचैनलों पर पीटा जाने लगा। इस बजट में इनकम टैक्स की सीमा नहीं बढ़ायी गयी है। इस आलोचना का सच यह है कि यदि यह सीमा 50,000 और बढ़ाकर 5.5 लाख कर दी जाती तो अधिकतम 10 हजार की और छूट मिल जाती।

 

लेकिन इसका दूसरा पक्ष यह भी है कि आम आदमी पर बोझ डालने वाला किसी भी प्रकार का कोई नया टैक्स नहीं लगाया गया है, ना पुराने किसी टैक्स की दर को बढ़ाया गया है।

देश नहीं पूरी दुनिया की कमर तोड़ देने वाली भयानक महामारी के जानलेवा संकट की 2 साल गहरी अंधेरी खाई से देश को निकाल रही सरकार के साथ इतनी निर्ममता, इतनी स्वार्थपरता उचित नहीं।

Sudesh DJV writes on contemporary subjects in the form of Articles and poems which are in the interest of the Nation in particular and for Mankind in general.