Mixed reaction to Union budget

Excelsior Correspondent
JAMMU, Mar 1: President Chamber of Commerce & Industry Jammu, Y V Sharma has termed the Union budget, presented yesterday, as a fine balancing act in which the Finance Minister has tried to address almost all the important sectors of economy within his financial constraints.
The Finance Minister has not given a populists budget and has tried to keep the economy on rails, Mr Sharma said that the budget addresses the problems of three main sections of the society, namely Women, Youth and the Poor.
Admitting that the Chamber was expecting certain concessions to Industry in J&K State, Mr Sharma said that the CCI would approach the Finance Minister with their demands. The State Government has also sent a similar note to the Finance Minister which is likely to be put up before him very soon, he added.
On the other hand, All J&K Low Paid Government Employees Federation has dubbed the Union budget as jugglery of figures and window dressing merely to hoodwink the people.
In a statement, the Federation president Abdul Majid Khan said that the globalization and pro-rich economic reforms were hitting the working class and toiling masses of the country. Income tax exemption limit should have been raised taking into consideration the rise in price index to provide some relief to tax payers at the lower rung, he added.


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