Budget 2020 Reactions: 'Hollow, Fails to Address Unemployment Crisis', Says Rahul Gandhi
The Budget 2020, rolled out by Sitharaman, proposes a massive income tax rejig amid the deepening economic slowdown. From the next fiscal year, a person earning between Rs 5-7.5 lakhs will be required to pay tax at 10 percent against current 20 percent. For those with annual income above Rs 7.5-10 lakh, tha tax rate has been lowered from 30 to 20 percent.
New Delhi, February 1: Senior Congress leader Rahul Gandhi, in a stinging critique of the Union Budget 2020, said fiscal roadmap laid down by Finance Minister Nirmala Sitharaman, fails to address the pressing issue of unemployment. Jabbing Sitharaman for her speech lasting over two hours and 40 minutes, Gandhi said it was the longest but void of any strategic ideas. Check Full Highlights of Union Budget 2020-21.
"The main issue facing is unemployment. I didn't see any strategic idea that would help our youth get jobs. I saw tactical stuff but no central idea. It describes govt well, lot of repetition,rambling-it is mindset of govt, all talk, but nothing happening," the Gandhi scion said.
"Maybe this was the longest #Budget speech in history but it had nothing, it was hollow," the former Congress president further added.
Update by ANI
Another top Congress leader, Anand Sharma, also condemned the Budget presented by the Finance Minister. In his criticism, the former Union Minister said the government has failed to explain the budgetary mathematics behind its announcement.
"Nirmala Sitharaman has failed to explain the budgetary maths. As revenue receipts till November are only 45 percent of the budget estimates there is a gaping hole. Flowery language and high-sounding words and platitudes are meaningless," he said.
The Budget 2020, rolled out by Sitharaman, proposes a massive income tax rejig amid the deepening economic slowdown. From the next fiscal year, a person earning between Rs 5-7.5 lakhs will be required to pay tax at 10 percent against current 20 percent. For those with annual income above Rs 7.5-10 lakh, tha tax rate has been lowered from 30 to 20 percent.
(The above story first appeared on LatestLY on Feb 01, 2020 02:28 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).