Nagpur: Leaders across political parties fervently hoped that the Union finance minister Arun Jaitley would focus mainly on boosting employment and providing better income to farmers when he presents the Budget proposals on Thursday.
There is strong speculation that general elections could be advanced to around December this year. Even otherwise, this could be the last full Budget for the current Narendra Modi regime. Thus heightening expectations of a pro-people announcements with generous sops for taxpayers, small tottering businesses and perennially distressed farmers.
Even ruling BJP MP and member of parliamentary standing committee on finance, Ajay Sancheti, stresses on urgent need to rationalize issues related to Goods and Services Tax (GST) and fallout of demonetization, the two major economic reform moves carried out by the Modi government. He expects sops for the middle class.
"My hunch is that more than political compulsion or need for populism, the Budget would be driven by need to boost development. So it would have enough to attract massive investment, both domestic as well as foreign direct investment without ignoring the have-nots,' added Sancheti.
Congress general secretary and former MP Avinash Pande says Union Budget 2018-19 could be the last chance for Modi government to fulfil plethora of promises. Farmers, employment, trade and business, education and health, price rise are the five problem areas PM Narendra Modi identifies while expressing concern over massive unrest in the country. Currently working in Rajasthan for the party, Pande says people are disillusioned and unhappy with Modi government which has failed to keep promises. Pande expressed confidence that the results of the Lok Sabha by-election for three seats, to be announced on Thursday, will reflect the public anger. "First priority should be farmers as they constitute base of the economy," he added.
Ashish Deshmukh, BJP's young MLA from Katol who is not very happy with the party these days, feels strongly for farmers. "The Union Budget should consider the Swaminathan Commission recommendation of factoring in input costs and 50% profit while fixing minimum support price (MSP) of farm produce," he said adding this was the promise BJP made during the poll campaign. "Besides farmers, the biggest concern is growing unemployment. The government should provide incentives to manufacturing sector to generate jobs especially in backward areas like Vidarbha," said Deshmukh
State Congress spokesman and Budget and economic analyst Atul Londhe says the economy is in doldrums and the Economic Survey reveals its weaknesses. "For the first time, climate change has been identified as a negative for farming. So Budget should come out with mitigating measures. Crop insurance should be made farmer-friendly instead of making profits to insurance companies," said Londhe.
"The 7th pay commission has not provided middle class with expendable income. So the dream of housing has remained out of reach. To make matters worse, RERA has not been implemented correctly affecting real estate sector. To sum it up, this is the last chance for Narendra Modi regime to redeem its waning popularity," said Londhe.
Politicians' wishlist
Steps to make housing really affordable for middle class
Urgent measures to arrest spiralling prices and boost employment
Bringing down corporate tax to 25% for much-needed growth stimulus, like the US did
Top priority to improve lot of farmers who account for 60% of the total population
More funds for MNERGA, education, health
