Gopal Sharma
JAMMU, Feb 1: The Union Budget presented in the Parliament today by Finance Minister, Nirmala Sitharaman has evoked mixed reaction in the Union Territory of Jammu and Kashmir.
The Jammu Chamber of Commerce and Industry (JCCI) in its immediate reaction to the Budget announced by the Central Government today lauded the Government of India for announcing massive budget for the health sector. It said COVID-19 was an eye opener for the Government to focus and increase the budget for health sector. Rs 35000 crores for COVID-19 vaccine is a laudable step, the JCCI added.
Arun Gupta, president Jammu Chamber, however, pointed out that nothing special has been announced for the trade/ industrial Sector in this budget. He said for recent industrial package of Rs 28400 crores, the Govt has yet to issue notification. Gupta also welcomed the decision of the Government for announcing J&K Gas Pipeline Project.
The JCCI president said economy of Jammu and Kashmir is purely based on tourism Sector but no focus has been laid on this sector and especially in Jammu division which has been ignored for the last so many years. He, however, welcomed the Government decision to open 100 new Sainik Schools, rationalization of Custom duty, exemption from filing of Income Tax return for senior citizens above the age of 75 years and enhancement of audit limit from Rs 5 crore to 10 crore.
Associated Chambers of Commerce and Industry of India (ASSOCHAM), while welcoming the Union Budget expressed that budget has catered to all the sectors and it would give a boost to the economy of the country, which was badly hit by the COVID-19 pandemic.
A S Mittal, Chairman, ASSOCHAM North Regional Development Council said, ” Reduction of Custom duty on all types of steel and exemption of duty on import of scrap are appreciable initiatives so as to soften the rising steel prices.”
Manik Batra, Chairman, ASSOCHAM J&K Council and Director, Batra Group said, “It is a very well thought out Budget and has lived up to the aspirations of the people. In this budget, special attention has been given to the UT of J&K”.
“Centre has proposed an allocation of Rs 30,757 crore for J&K for the fiscal year. Other than that, a new gas pipeline has been announced for J&K, which will contribute to the upliftment of J&K and help generate jobs for the youth,” he added.
Federation of Industries Jammu (FOIJ), led by its chairman, Lalit Mahajan has termed the Union Budget 2021-22 as a positive step to encourage the MSME Sector of the country under the Atma Nirbhar Bharat concept of the Prime Minister as the Atma Nirbharta is not a new idea as in Ancient India it was largely self-reliant and equally a business epicenter of the world.
FOIJ said business houses having turnover of less than Rs 10 crores exempted from the preview of the Audit which is a big relief for MSME Sector with 95% Digital transactions. Moreover, increase in the Custom duty on the import of finished goods from outside the Country, which is being manufactured by the MSME Sector, also provides a level playing field to the domestic manufacturing MSME Sector. Budget allocation for Infrastructure development is also a key factor for the development of Industrial Sector.
Association of Industries, Gangyal (Jammu), president Rattan Dogra has expressed his astonishment and dismay over the near total neglect of Micro/Small Industries in the Union Budget which shall further impact the worsening condition of the local Micro/Small Units.
He said the Budget appears to lack explicit understanding as many of the clauses of the budget are loaded through various annexures which requires indepth study. Dogra said Budget should have acknowledged the bonafide role of Micro/Small Industries towards job creation to curb rising unemployment and should have provided special fiscal stimulus to improve health and status thereof. As of now, the J&K UT budget is also to be tabled in the Parliament subsequently. Pre-budget discussions were found missing this year.
Confederation of All India Traders (CAIT), national vice president, Neeraj Anand has said that Union Budget is a comprehensive and progressive economic document which ensures development of each sector in a structured way, providing ease of doing business to traders, relieving senior most citizens from the burden of tax, ensuring robust growth in health sector and services and above all becomes an effective document where no new tax or cess is levied. However, Federation disagrees with the FM that GST has been rationalised rather it has become a more complicated tax system.
He said no support policy has been announced for the retail trade of India which generate an annual turnover of more than Rs 80 lakh crores and providing employment to nearly 40 crore people in the Country.
Federation of All India Vyapar Mandal in its reaction has said that Government has focused on manufacturing sector alone. It has declared 1.97 lakh crores production linked incentive for next 5 years. Government is banking on organised sector which provides only 10% employment opportunities. Unorganised sector which provides employment to rest has been ignored as no relief or concession has been extended to this segment of importance.
Sanjay Bansal, president, J&K unit has said that Budget has ignored to empower consumers with more buying power. If demand is not lifted all efforts will have no impact on economy. Only corporate and agriculture sector seems beneficial out of budget. Traders and retails who were previously ignored during announcement of stimulus packages got disappointed as budget could not give any relief to this sector. Neither tax rates on partnership firm nor LLP which we demanded at par with Companies, not any benefit in Bank interest has been extended. This budget has has disappointed middle-class population, including retailers and traders of nation.
BJP National general secretary Tarun Chugh has hailed the 2021-22 budget as a big step towards reassuring farmers that the Modi government would continue to give top priority to people is disturbing.
JKPCC has alleged that people of Jammu and Kashmir have been neglected in the budget which otherwise lacked the required direction and any roadmap to create better job opportunities and boost the economy.
Reacting to the budget proposals, JKPCC chief spokesperson Ravinder Sharma termed the budget as directionless which brought no cheers to the common people especially the youth, students,the farmers and the labour class who suffered a lot due to worst economic slowdown and the covid situation. He said there are no effort to boost the rural economy and create job opportunities in the wake of large scale unemployment and retrenchments in the recent years due to wrong economic policies of BJP government coupled with covid situation.
There is no respite from the ever increasing prices of all commodities of common use and unprecedented price hike of petrol, diesel despite drastic fall in the rates of crude oil in international market. The J&K seems to have been forgotten by the Finance Minister in this budget and there is no focus on the most badly affected people of this troubled part who have been facing worst economic slowdown due to the various kinds of changes brought by the BJP government in last one and half years.
National Students Union of India condemned the Budget and said it failed to come up to the expectations of the students’ community. A gap between rural areas and urban areas should have been curtailed but no such action had been taken while fabricating the Budget 2021.
NSUI said due to Covid, students and teachers were expecting an education budget. A survey was conducted by Oxfam India in states like Bihar, Chhattisgarh, Jharkhand, Odisha and Uttar Pradesh states that more than 80% parents claim that education was not delivered to their children studying in government schools during lockdown because of unavailability of devices and internet connectivity issues. In Budget 2021, the government promised to implement National Education Policy over 15,000 schools and represent as a model for rest schools but there is no announcement for old school reforms.
NPP chief patron Prof Bhim Singh in his brief reaction described this budget as ” rob the poor and feed the rich and capitalist class.” Bhim Singh called the working class, farmers and low paid employees besides school going children of the poor class as `victims of BJP’s Budget’.
Shiv Sena (BST), J&K unit led by Manish Sawhney has termed the budget as most disappointing for the students and unemployed youth. He said that unemployeds were expecting an Employment package but there was nothing for them in this budget.
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