The Interim budget presented by Finance Minister Piyush Goyal on Friday is more in form of annual report wherein the government tried to highlight its achievements of the last five years. It can be termed as a pro-election, pro-middle class and pro-tax-payers budget, said, Chairman of Nagpur Chapter of Institute of Chartered Accountants of India (ICAI); Umang Agrawal.
Commenting further on the budget Agrawal said, “I believe Mr. Goyal carefully drafted the budget speech for making the common man of the country happy which was evident through the number of times thanks being given to the taxpayers as a feel good factor. Increase in the rebate limit for small tax payers, limit of TDS deductions on interest and rent, standard deductions under Income Tax are appreciable. However, direct benefit to the farmers of Rs. 6000 per annum is a mere eye wash and would not suffice the real purpose for which it is being given.”
As expected he has given emphasis on rural, farming and infrastructural economy, the benefits would reap in long term only, Agrawal remarked.
Overall the budget being an Interim Budget and elections being round the corner, the Finance Minister has outplayed the preceding ministers and presented a budget which does not have many illogical and impractical measures.