Budget reactions with intro

Aurangabad, Feb 1:

The Finance minister Nirmala Sitharaman presented the union Budget for the year 2022-23, amid the third wave of Covid-19. The budget focuses on infrastructure, social engineering and health services, which delights the corporate companies, but there was nothing specific for the citizens and traders. Aurangabad First spoke to some dignitaries from various sectors to know what they think about the budget.

Positive budget for real estate

The government has presented a positive budget for the real estate sector that has faced severe headwinds in the past due to corona. The budget assures us a fruitful recovery with several key budget announcements. With a focus on the construction of over 80 lakh affordable houses by the year 2023, focus on urban development via the concept of mega cities and enhanced focus on Tier 2 and Tier 3 cities will provide the much-needed impetus to the real estate sector, said Credai president Nitin Bagadia.

Zero budget for the traders

There is hardly any respite for the traders who have been through their worst due to the covid pandemic. Owning to humongous losses, many traders closed their business and those who survived are under debt. The inclusion of traders under MSME provides some respite, also the extension to ECLGS is beneficial. Despite being the highest employment generating sector, the business sector remains sidelined, said Vijay Jaiswal, president, ZIlla Vyapari Mahasangh.

Encouraging budget for MSMEs

The extension of Emergency Credit Line Guarantee Scheme is a welcome move for MSMEs. The credit and fiscal support of 5 lakh crore will give a huge boost to this sector encouraging new businesses to come to the fore. This announcement will certainly generate a lot of employment opportunities. However, a slight focus on easing the trade and the taxation policies for MSMEs facilitating more freedom to do business was also expected from this year’s budget announcement, said Massia president Narayan Pawar.

All inclusive budget for industrial sector

The announcement of a single window scheme for the industry is a welcome step. The inclusion of Rs 2 lakh crore for the MSME sector, reduction of corporate tax to 7 per cent, tax concession for startups till 2023, boost to agri based industry, inclusion of 25 per cent from defense budget for private industries for promoting local manufacturing of defense goods and upskilling are some major announcements that will benefit the industrial sector. A defense manufacturing unit in Aurangabad will be beneficial for Marathwada, said CMIA president Shiv Prasad Jaju.

Traders to benefit

We welcome the provisions for MSMEs under ECLGS scheme, however the annual savings should have been increased from 1.5 lakh to 2.5 lakh. Traders are also categorized under MSME hence it will also largely benefit them as well. The decision to build 25,000 km roads in 3 years will boost transport. There must have been something for improving railway transportation as movement of goods by road is costlier. I will give 40 marks for the budget, said Praful Malani, president, Marathwada Chamber of Trade and Commerce.

Nothing for common man

The budget had nothing for the working class and laborers. The government failed to address issues like free education, pension to workers, employment, wages, food security and giving accommodation to all. The government should have made inclusion of giving Rs 5000 pension to workers after their retirement. The budget only focused on corporate companies. The citizens should have got some respite from inflation, but sadly there was nothing for the common man, said Subhash Lomte, general secretary, Maharashtra Rajya Hamal Mapadi Mahamandal.