Jaipur: This time, the expectations from the Central Budget, which will be announced on Monday by finance minister Nirmala Sitharaman, reflect a desperate urgency. Having suffered job losses, erosion in incomes with an uncertainty hanging over careers, people in the state said they want a Budget that spurs economic activity and makes lives normal again.
For people working in the private sector, the pandemic has played havoc in their lives. Kumud Mishra, who works in a private school has not been paid a full salary for the past 10 months. On top of it, her husband who worked in the hospitality sector has lost the job.
“I don’t know when we will return to the pre-Covid days. All our plans have been turned upside down by the pandemic. My salary has been cut and my husband has lost his job. We cannot stop the education of our two children because we don’t have money. I don’t know how the budget can help our situation but I want by husband to get back his job and full salary for myself,” said Mishra.
The informal sector has also been hit hard by the lockdown and the lack of economic activities. Rajveer Kapoor who sells car accessories, seats, music systems, etc., mostly catering to second-hand car users, said it’s difficult to make Rs 5,000-7,000 a month now.
“I cannot deposit the school fees of my daughter who studies in Class-IV. People avoid spending for things which they don’t need urgently. I used to make Rs 20,000-25000 a month. But what I earn today is only enough to meet the food we eat every day. We hope there is something in the Budget that can change my situation,” added Kapoor.
For industry, scarred deeply by the pandemic, businessmen expect the finance minister to provide relief in making funds available to the MSMEs, reducing taxes, and improving infrastructure to stay competitive in global markets and having a compliance system which is less rigorous.
“Funding for MSMEs has become a bigger challenge. Banks and financial institutions have lending targets but they achieve them by lending to a few big companies. Majority of small, needy enterprises get deprived of bank finance. Chief minister’s Small Industries Promotion Scheme has been an effective initiative. Hope, the finance minister announces something like this to help the small industrial units,” said Sunil Bansal an entrepreneur.
Many said that the Budget proposals should not be like old wine in new bottle.
“The Atmanirbhar stimulus package was a collection of running schemes. That’s why the impact of the stimulus was not felt. Given the large-scale disruption the industry has suffered, we want something radical in thought which is effective on the ground as well,” said a promoter of a small industrial unit.