What Nirmala Sitharaman Missed Announcing in Budget 2020: Here Are Some Expectations That Weren't Met
Finance Minister Nirmala Sitharaman on Saturday presented the Union Budget 2020 and did a rejig in the income tax slab while announcing funds allocations for several sectors. However, there were some aspects that she didn't touch, nor there were any major announcement is those sections. Here are some expectations that didn't see the light of the day.
New Delhi, February 1: Finance Minister Nirmala Sitharaman on Saturday presented the Union Budget 2020 and did a rejig in the income tax slab while announcing funds allocations for several sectors. However, there were some aspects that she didn't touch, nor there were any major announcement is those sections. Here are some expectations that didn't see the light of the day.
Among the chief sectors, where expectations were not met include auto, aviation, agriculture (some fields), education, MSME, telecom and defence. Also, financial experts opine that the Finance Minister should have addressed the common need of the people. Union Budget 2020-21 Highlights: FM Nirmala Sitharaman Announces New Income Tax Slabs But With Riders, Allocates Rs 2.83 Lakh Crore For Agriculture and Rs 69,000 for Healthcare; Here Are All Updates.
Comparing the expectations versus reality, the most neglected sector was auto and aviation. With both the sectors feeling the heat of economic crisis, no big announcement to ease off their worries have aggravated the slowdown. Experts also opine that FMCG sector should have been addressed in the Union Budget.
The Defence sector, where Sitharaman increased the pension budget up to Rs 1.33 lakh crore from Rs 1.17 lakh crore -- allocated last year -- was a surprise factor. The Defence sector was looking for higher budget allocation this time. Defence expects have thought that Sitharaman would hike funds for modernising defence equipment.
Apart from the defence, lack of adequate funds announcement for railways and denying of rollback of recent fare hike have pinched the common people. Lack of announcement of new trains have also disheartened the commuters. However, the combined budget allocation of Rs 1.7 lakh crore for the entire transportation sector have created a confusion over how much would be segregated among rail, road transport and aviation sectors. Budget 2020: From Skimmed Milk to Alcohol and Footwear to Medical Equipment, List of Commodities That Got Cheaper and Costlier.
Meanwhile, there were others who have hailed the Union Budget, that was presented by Sitharaman in her address to parliament over a time period of 2 hours and 41 minutes. In the Budget, the FM said that this budget is based by three themes -- aspirational India, economic development for all and a caring society.
(The above story first appeared on LatestLY on Feb 01, 2020 06:50 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).