Bharatiya Janata Party leader and M.P. Dr. Udit Raj said that all the sections, be it underprivileged, poor, middle class , rich , business class, investors, farmers, foreign investors have been given adequate representation in the budget. He was presenting his views on Budget14-15 and asserted that the budget being one of its first kind is an extremely well balanced budget that doesn't unduly favor any section of the society.
He further said that finance minister, Arun Jaitley has indeed presented a budget that is sure to bring in Achhey Din for the nation. Dr. Udit Raj added that it is important that we decrease the fiscal deficit even if it means expanding the scope of taxes or decreasing the expenditure, A substantial decrease in fiscal deficit would mean encouraging domestic and foreign investors. Finance Minister has resolved to establish a growth based regime by aiming at a growth rate of 7-8% via Agriculture, Skill development, Infrastructure Development and efficient Governance.
For the first time, Banks have been provided with the facility of relaxation in SLR and CRR rules to allow them to grant Bonds on a long-term basis in the infrastructure sector. A national market will be opened up for the farmers so that they can conveniently sell their products. NABARD has been granted 2000 Crores for encouraging establishment of an organization of more than 2000 producers. 5,000 Crores have been earmarked for the construction of Warehouses. All this put together will substantially benefit the farming community.
Dr. Udit Raj further stressed on the appreciable work that has been done in the current Budget with regards to the taxation sector. CBDT and CBES shall appoint a high level committee to periodically review the problems faced by the taxpayers and shall consequently suggest measures to deal with the same. Advance ruling that was only available for NRIs until now has been extended to Domestic producers.
Dr. Udit Raj also thanked the Finance Minister and Prime Minister for earmarking 500 Crores for dealing with the problem of Water scarcity in Delhi. Finally, he remarked that improving the state of economy inherited by us from the Congress Government is a massive challenge for the government.
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