Union Budget 2024: ‘It’s a political budget, not a financial one’

Amid gloomy predictions that loom large over global economiesmdashespecially those of lowincome developing countries facing internal and external challenges Union Finance Minister Nirmala Sitharaman presented her recordbreaking seventh consecutive budget on Tuesday The effects of the RussiaUkraine war and the West Asia conflict have been contributing to the global growth slowdown causing fuel and food prices to surgeIn an emerging economy like ours the common man is affected in numerous ways from the basic ease of living tax sops for the middleincome group and agriculture to the more complex mega national and international projects which in the long run enhance our position in the global GDP rankingmidday met up with three generations of the Shah family headed by brothers Bakulesh and Jatin who come from the old school of business and their families who work with modern ecommerce platforms in their suburban residence to get a firsthand perspective on government policies expectations and their implicationsSushma Shah 62 HomemakerI know the challenges faced by working women who after a long dayrsquos work have to also attend to household chores before sleeping Building working womenrsquos hostels and cregraveches which have been announced should be completed at the earliest and they should be spread all over the countryAditya Nanda 23 Ecommerce businessmanAs a startup founder one of the best announcements was the abolishing of angel tax where companies issued both fair price shares and market value and paid taxes on premium amounts collected from investors Now a company can apply for tax exemption and also give thirty to forty per cent more capital to invest in their venture This development will encourage the countryrsquos younger generation to become entrepreneurs thus generating more job opportunities and boosting global investmentsJatin Shah 64 Retired accountantHospital bills in cities like Mumbai can deplete onersquos bank balance The situation is worse for senior citizens who do not have a regular source of income Unfortunately there are no benefits in the allimportant healthcare sector which has been neglected for decadesAmit Nanda 48 Proprietor event management companySeveral key measures aimed at boosting micro small and medium enterprises MSME if implemented in its true spirit will ensure that this skilled sector which at many times is facing financial difficulties will in play a vital role in contributing to the mainstream economyBakulesh Shah 74 Retired businessmanThe government has to ensure it keeps its promise to focus on the poor women youth and farmers Having been associated with the manpower sector the proposal for lowcost rental housing for labourers is a welcome step that should have been implemented years agoKhush Nanda 18 BBM studentThe government should ensure that worldclass educational institutions are built in rural and urban India as affording to stay in big cities is not economically viable for those hailing from villages Student loans of up to Rs 10 lakh for higher education in domestic institutions are a welcome step provided they reach deserving candidatesSejal Nanda 48 Entrepreneur in spice businessSpecial attention should be paid to women entrepreneurs especially in the smallscale sector The plan to start ecommerce export hubs will enable people in this sector including traditional artisans to reach out to a wider international market The financial support promised to fifty multiproduct food traditional units will enhance safety standards which are essential for exports and domestic consumptionKeval Shah 27 Equity analystThis is a very good budget I liked the scheme for one crore students who can now avail of internships in top companies in reallife business environments plus get a stipend of Rs 60000 per annum This initiative will go a long way in generating a workforce of highly skilled and motivated youth who are the future of our country The loan for startups has been doubled from Rs 10 lakh to Rs 20 lakh This will generate fresh job opportunities for manyAshish Mehta 53 Forex interbanking broking specialistItrsquos a political budget and not a financial budget in my opinion It seeks to appease Andhra Pradesh and Bihar politicians for their support with some benefits to North East where the ruling government wants to inroads There are no benefits for the common man Removing the indexation on real estate will increase the prices of properties which are already beyond the reach of the middle classKusum Shah 72 HomemakerEvery year the cost of essential food items like milk tomatoes and onions escalates giving heartburn to women who run the kitchen The middleandlower class families are the worst affected by this price fluctuation Eating out is a far more expensive option and cannot be followed regularly The plan to train one crore farmers to adopt ageold natural farming methods will encourage healthy eating habits