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CPI(ML) MP Sudama Prasad reacted to the Union Budget, raising concerns over rising unemployment and inflation, stating that while the budget claims to provide relief to the middle class, the ground reality tells a different story.
"There is a lot for Bihar in the budget. It promises relief to the middle class, but at the grassroots level, we see unemployed youth struggling. Historically, both unemployment and inflation have increased, and now we are witnessing this on a large scale. The budget should have addressed these issues more effectively," he said. On February 1, the Finance Minister made significant announcements for Bihar, including the formation of a Makhana Board, the establishment of new greenfield airports, and the expansion of Patna Airport. The Finance Minister also announced the establishment of the National Institute of Food Technology, Entrepreneurship, and Management in Bihar to provide a strong boost to food processing activities in the entire Eastern region. She also highlighted the Western Kosi Canal ERM project in the Mithilanchal region of Bihar. "Financial support will be provided for the Western Kosi Canal ERM project benefitting a large number of farmers cultivating over 50,000 hectares of land in the Mithilanchal region of Bihar," she said. During her Union Budget 2025 speech, Finance Minister Nirmala Sitharaman announced that no income tax would be payable on income up to Rs 12 lakh, providing significant relief to taxpayers, especially the middle class. In her budget speech, she said that Budget 2025 continues the government's efforts to accelerate growth, inclusive development, private sector investments, uplift household sentiments, and enhance the spending power of India's rising middle class. The budget session of Parliament, which began on January 31, is scheduled to conclude on April 4. The budget speech outlined the government's fiscal policies, revenue and expenditure proposals, taxation reforms, and other significant announcements. (ANI)
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