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| J&K unhappy, with no sops in budget | | | Early Times Report
Jammu, Mar 16: Finance Minister Pranab Mukherjee's seventh union budget, presented in the Lok Sabha Friday, found few takers in Jammu and Kashmir with no special schemes aimed at boosting the state's economy.
Jammu and Kashmir has an annual tax collection of only about Rs.4,800 crore and looks to the union budget for some special schemes for kick-starting its economy. "Our hopes have been belied. This is an anti-people's budget," said CPI-M leader Mohammad Yusuf Tarigami. An "unhappy" Rakesh Gupta, a prominent leader of the business community in Jammu city told IANS: "I was looking at something for Jammu and Kashmir in the budget, but was disappointed. The business community is already suffering because of inflation and the decreased buying capacity of people. This budget will further suppress them." While the state government, especially Chief Minister Omar Abdullah and Finance Minister A.R. Rather did not react immediately to the budget, employees in the civil secretariat were "not happy" with it. "The increase of just Rs.20,000 in the income tax exemption slab is a joke with us," Bashir Ahmad, an employee said."The least that the Union Finance Minister could have done was to increase the income tax exemption slab up to Rs.4 lakh," he said. Tirlok Singh Bajwa, a leader of the Opposition Peoples Democratic Party, said that the budget was making "no sense to any one". |
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