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| MP Rajya Sabha & LPU Chancellor, Dr Ashok Kumar Mittal, offers insightful analysis on Budget-2024 | | |  AGENCIES
JALANDHAR, Feb 1: Providing a keen insight into the recently unveiled Budget-2024, MP Rajya Sabha & Chancellor of Lovely Professional University (LPU), Dr. Ashok Kumar Mittal, has shared his observations on the government's fiscal plans.
Dr. Mittal commended the Finance Minister's focus on the pivotal role of research and innovation in fostering growth, employment, and overall development during the parliamentary session. He acknowledged Prime Minister Narendra Modi's evolution of the national slogan from "Jai Jawan Jai Kisan" to "Jai Jawan Jai Kisan Jai Vigyan," further expanded to include 'Jai Anusandhan.' This ethos was underscored during PM Modi's address at the Indian Science Congress held at LPU on January 3, 2019.
Despite these positives, Dr. Mittal expressed concern over the unmet expectations of the middle class. The absence of income tax relief and limited announcements for the farm sector may have contributed to a perception of disappointment. While the FY25 capital expenditure allocation witnessed an 11.1% increase to Rs 11.11 lakh crore, Dr. Mittal highlighted that this falls short of expectations, particularly when compared to the substantial 37.4% increase in the previous budget.
Furthermore, Dr. Mittal raised alarms over the reduction in the allocation for fertilizer subsidy, which saw a significant 13% decrease to Rs 1.64 lakh crore for 2024-25, in contrast to the revised budget estimate of ?1.89 lakh crore for FY24. This reduction raises concerns, especially for the farming community.
Dr. Ashok Kumar Mittal's insightful analysis sheds light on both the positive aspects and the areas of concern within the recently presented budget, offering a nuanced perspective on its implications for various sections of society. |
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