Budget 2023-24: "Only fancy announcement...", says Cong's Venugopal

New Delhi [India], February 1 : Congress general secretary KC Venugopal on Wednesday slammed the Centre for not addressing the real issues in Union Budget 2023-24 including unemployment and price rise adding that the budget "only had fancy announcements that were made earlier too."
Finance Minister Nirmala Sitharaman presented the Union Budget 2023 today in Lok Sabha. This was the third time in a row that the government presented the budget in a paperless form.
Speaking to ANI, the Congress leader said, "This budget is not addressing the real sentiment of the country that is unemployment and price rise. It only had fancy announcements that were made earlier too but what about implementation?"
Venugopal further alleged that the Centre benefits only insurance companies and not farmers under Pradhan Mantri Kisan Yojna.
"Only insurance companies were benefited from PM Kisan Yojana, not farmers," said he added.
Meanwhile, Congress president Mallikarjun Kharge said that the Budget 2023 was prepared keeping an eye on the upcoming Assembly elections adding that it has nothing to offer for the poor people of the country.
He further said that the ruling government has failed to control inflation and the budget is not for common people.
"The budget was presented by the Modi government keeping in view the upcoming Assembly polls in three-four states. This was an election speech and they had prepared that 15 days ago. There is nothing in the budget for poor people and to control inflation. No steps for jobs, to fill government vacancies and MNREGA," said Kharge on Union Budget 2023.
Lambasting the BJP at the Centre for not presenting any vision to create jobs, Kharge said that the government failed to fill vacancies at existing government offices.
Notably, Union Finance Minister Nirmala Sitharaman on Wednesday announced an increase in the income tax rebate limit from Rs 5 lakh to Rs 7 lakh stating that the new tax regime will now be the default tax regime.
The Finance Minister also proposed to change the tax structure in this regime by reducing the number of tax slabs to 5 and increasing the tax exemption limit to Rs 3 lakh.
On personal income tax, the FM announced that "Tax for income of Rs 0-Rs 3 lakh is nil, for income above Rs 3 lakh and up to Rs 5 lakh will be taxed at 5 per cent, for income of above Rs 6 lakh and up to Rs 9 lakh will be taxed at 10 per cent and for income above Rs 12 lakh and up to Rs 15 lakh to be taxed at 20 per cent and above 15 lakhs at Rs 30 per cent."
Highlights of the budget presented by the Union Finance Minister included big incentives under the new income tax regime. The IT rebate limit in the new regime has been increased from
Rs 5 lakh to Rs 7 lakh and the new tax regime will be the default tax regime, the Finance Minister said. Capital expenditure outlay has been increased by 33 per cent to Rs 10 lakh crore, accounting for 3.3 per cent of the GDP.