Sir,
Finance Minister unveiled budget in the Parliament for the year 2022 which got mixed reactions from the public domain in the country. The allocation of Rs 5.25 lakh crore for defence sector is a right decision in the defence of the country. Expanding of highways by 25000 Kms and also inter-linking of rivers for which 39.45 lakh crore stands allocated will generate employment for the economically weaker sections of the people. Digital financial services are planned to be expanded and 1.5 lakh post offices are to be connected to the core-banking platform for financial inclusion and banking access to the non-banking population. On the contrary food fertiliser and other subsidy outgo has been cut by 39 per cent. Govt plans to boost investments thereby increasing jobs and consumption. The fiscal deficit which has risen to 6.9 percent of the GDP for the current fiscal year ending March, 2022 is projected to come down to 6.4 percent next year and will go down to 4.5 percent by 2025-26. It is here worth to mention that Finance Minister Nirmala Sitharaman granted Rs 35,581.44 crore to J&K as part of the Central Govts assistance, grants and loans for the next financial year of 2022-23. She has kept a provision of Rs 225 crore for J&K under Special Scholarship Scheme. One is here at a loss to understand that there is no sort of relief for the fixed income group category in the budget 2022. There is neither any hike in the income slab of employees/pensioner for deducting of income tax. The budget depicts pro rich and anti poor sentiment.
S N Raina
Jammu
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