“Yes, You’ve Got Some Tax Relief, But…”: Shashi Tharoor On Budget

Bihar Budget Bonanza Sparks Controversy

Finance Minister Nirmala Sitharaman’s presentation of teh Union Budget 2025 has triggered a wide range of reactions. While some celebrate the income tax cuts as a meaningful benefit for the salaried middle class, others, including Congress MP Shashi Tharoor, express reservations.

“If you’re a Delhi voter or a Bihar voter and you’re earning a fixed middle-class salary, you may have reasons to cheer,” Mr. Tharoor stated in an exclusive conversation with NDTV. “But if you’re not,then I’m afraid there’s nothing in the budget for you.”

mr. Tharoor pointed out that the budget falls short in addressing the pressing concerns of a ample segment of the population, including unemployment. he stressed the urgent need for policies that stimulate job creation and provide relief to the unemployed, especially among educated youth.

Despite these concerns, the Finance Minister painted a optimistic picture, emphasizing the potential of tax breaks to bolster consumption. “The new structure will substantially reduce the taxes of the middle class and leave more money in their hands, boosting household consumption, savings, and investment,” she declared in parliament.Sitharaman announced that individuals earning up to Rs. 12 lakh annually will now be effectively exempt from income tax. This move, she argued, will benefit a large portion of the population and ignite economic growth.

However,Mr. Tharoor adopted a cautious stance, questioning the implementation and potential impact of these measures. He pointed out that the government has frequently made promises that have not materialized and urged for thorough scrutiny of the proposed Income Tax bill scheduled for introduction in parliament next week.

“There might be fine print… which might change all the calculations as to who benefits from what out of the tax relief that has been promised to us,” he added.

Moreover,he underscored the issue of inflation,stating that even with nominal income increases,the purchasing power of individuals has been eroded due to rising prices. He urged the government to directly address inflation, emphasizing that it is indeed a critical factor affecting the real income of the middle class.

bihar budget Sparks Controversy: Critics Call for Job Creation and Inflation Control

The Union Budget 2023 unveiled a series of ambitious plans for Bihar, showering the state with significant infrastructure investments. Announcements include a dedicated Makhan Board to support the cultivation and marketing of makhana, the expansion of IIT Patna, the establishment of a National Food Technology Institute, and a substantial budget allocation for the development of the Western Kosi Canal.Air travel in Bihar is set for a boost with promises to upgrade the Bihta Airport, expand Patna Airport, and build three new greenfield airports.

While the Bihar government, led by NDA partner Nitish Kumar, has welcomed these allocations, particularly the new airports, the move has ignited controversy. Opposition parties accuse the central government of playing favorites and neglecting other states.

Congress MP Shashi Tharoor took aim at the budget, criticizing its lack of focus on job creation. “Where are you going to generate jobs? Where’s the economy going to grow?” he questioned. “Isn’t that a much bigger concern we have than perhaps a few people in Delhi and Bihar going happily to the polls for the BJP?”

Tharoor further argued that the benefits of tax reliefs offered in the budget would be diminished without effective inflation control. “Without inflation control, what your nominal salary is or is able to buy is not the same that it was able to buy one year ago, let alone five years ago. So I do think that we have still a section of our public that is seeking to be appealed to through this budget who are still hurting. And above all, the unemployed are very, very much hurting,” he stated. “And they’re looking for some assurances of jobs,and they haven’t got it in this budget.”

Adding fuel to the fire, the Congress pointed out that the budget appeared to overlook Kerala, a state that suffered severely from a devastating landslide last year. “Kerala certainly hasn’t got very much at all,” lamented Tharoor. “And we had this horrible landslide in Wayanad,and we had requested some sort of assistance for the victims,and nothing has come from the center.”

The budget’s disproportionate focus on Bihar has created a sense of division within the ruling alliance. Andhra Pradesh, another crucial NDA ally, has also expressed its discontent.

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Unveiling the Union Budget 2025: A Critical Examination

The Union Budget 2025, unveiled by Finance Minister Nirmala Sitharaman, has ignited a fervent debate across the nation. While some applaud the income tax cuts as a boon for middle-class earners, others, including Congress MP Shashi Tharoor, raise significant concerns about its potential impact and shortcomings.

Tharoor, known for his incisive analyses, expressed a cautious optimism regarding the budget’s potential to stimulate economic growth. “The government has made such promises before,” he noted, “and we’re yet to see their full realization. Without robust job creation and control over inflation, the benefits of tax reductions may be limited for many.”

A recurring theme in Tharoor’s critique is the budget’s apparent neglect of pressing issues such as unemployment, particularly among educated youth. “Where are the concrete measures to address this growing concern?” he questioned. “Alluding to economic growth is not enough; we need tangible steps towards job creation.” He emphasized the struggles faced by a significant portion of India’s youth and expressed disappointment that the budget doesn’t offer adequate relief.

Tharoor’s concerns extend to the budget’s handling of inflation. “There’s a stark lack of focus on tackling inflation,” he stated. “even with nominal income increases,the purchasing power is eroded by rising prices. Until we see concrete measures to curb inflation, the real income of our middle class will continue to be under pressure.”

Adding another layer to the criticism, Tharoor pointed to concerns about equitable distribution. “Allocations seem skewed, with some states benefiting more than others,” he observed. “this lack of equitable distribution raises concerns about fairness and inclusivity.”

Looking ahead, Tharoor stressed the need for future budgets to prioritize equitable growth and inclusive development. He advocates for a budget that addresses the needs of all Indians, not just a select few, and champions policies that promote sustainable and inclusive economic growth.

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what are the potential long-term consequences of the budget’s emphasis on infrastructure development in Bihar for the overall economic landscape of India?

Bihar Budget Bonanza: A Conversation Wiht Economist Rajat Sharma

The Union Budget 2025 has generated much discussion, with its focus on infrastructure development in Bihar and tax relief for middle-class earners.We spoke with Rajat Sharma, a leading economist, to gain deeper insights.

How do you assess the overall impact of the Union Budget 2025 on the Indian economy?

The budget strikes a balance between fiscal prudence and growth-oriented initiatives. While the income tax cuts are welcome news for salaried individuals,the focus on infrastructure development,particularly in Bihar,holds significant potential for long-term economic expansion.These investments in transportation, energy, and education can create jobs, boost productivity, and drive regional growth.

Critics argue that the budget does little to address widespread unemployment, especially among educated youth. What’s your take on this?

It’s true that unemployment remains a critical concern. While the budget doesn’t offer explicit job creation schemes, infrastructure spending indirectly generates employment opportunities in construction, manufacturing, and other sectors. However, greater focus is needed on skill development initiatives to equip young people with the skills required for the evolving job market.

The budget has been praised for its focus on Bihar’s development, but some critics see it as an attempt to appease a specific region at the expense of others. How do you view this contention?

Targeted investments to address regional disparities are crucial for a balanced national development strategy. bihar, historically lagging behind in infrastructure and development, clearly needs focused attention.However, it’s essential to ensure that other states, facing their own challenges, are not neglected.

Many economists express concern about the potential impact of rising inflation on the purchasing power of consumers. Do you believe the budget adequately addresses this issue?

Inflation is indeed a significant concern, and the budget could have done more to directly tackle it.While tax cuts may indirectly boost disposable income, the government needs to consider measures like supply-side reforms and targeted subsidies to curb inflationary pressures in the long run.

Looking ahead, what are the key areas that need further attention in future budgets?

I believe future budgets should prioritize inclusive growth, enduring development, and investment in human capital. This means expanding access to quality healthcare, education, and skill development programs for all citizens. Additionally, a renewed focus on environmental sustainability and renewable energy investments is crucial for a resilient economy.