Kerala CPI-M and Congress slam Union funds, BJP welcomes it

Thiruvananthapuram, Feb 1: Kerala’s ruling CPI-M-led LDF and the opposition Congress-led UDF on Wednesday slammed the Union Budget introduced by Finance Minister Nirmala Sitharaman, however the state BJP hailed it as a revolutionary one which is able to spur progress within the nation.

State Finance Minister Okay.N. Balagopal, who will likely be presenting his third funds on Friday, mentioned there’s nothing in it for Kerala.

“It’s a disappointing day for Kerala as there is practically nothing and what’s most surprising is in the various Central schemes, we have practically got nothing and the allocation from the divisive pool of the Centre also is appallingly poor. Overall things are disappointing,” he mentioned, including that nothing past the standard rhetoric, there’s nothing in any respect.

Leader of Opposition V.D.Satheesan mentioned other than the common juggling of figures there’s nothing in it.

“The National Rural Employment Guarantee Scheme has been strangulated and there is nothing in for those who have lost everything during the pandemic. There is nothing in it for the small scale industries, farmers, or the self-employed. Nothing is there also for the unemployed. It’s a depressing one,” the Congress chief mentioned.

On the opposite hand, state BJP President Okay.Surendran mentioned the funds has touched each sector and can spur progress within the nation.

“Pedal will be put on the development engine and it will spur growth as a staggering Rs 10 lakh crores has been earmarked for infrastructure development which in turn will create huge employment opportunities,” he mentioned.

Leading bankers in Kerala hailed the ‘pro-growth’ funds saying the important thing proposals within the funds will prop up the general financial progress considerably.

They really feel that the infrastructure-led push in capital expenditure within the funds together with growing the revenue tax exemption to Rs 7 lakh every year beneath the brand new tax regime will spur demand and employment concurrently.

Federal Bank Ltd Group President and Chief Financial Officer Venkatraman Venkateswaran mentioned the funds is an infrastructure spending oriented funds with 7 priorities set by the FM.

“The budget unveiled tax cuts and set the virtuous cycle of job creation. Out of the overall growth agenda, specifically looking at banking sector, there are two major proposals. First, on agricultural credit, the target is hiked to Rs 20 lakh crore, which will help drive rural growth. Additionally, the revamped credit guarantee scheme for MSMEs, with infusion of Rs 9,000 crore into the corpus, will enable additional collateral free credit guarantee of Rs 2 lakh crore,” he mentioned.

South Indian Bank Managing Director and Chief Executive Officer Murali Ramakrishnan mentioned opening of latest PM Jan Dhan accounts this 12 months will profit frequent man in a giant means.

“Effective implementation of schemes like opening of 47.8 crore PM Jan Dhan bank accounts will benefit common citizens. With the establishment of the Urban Infrastructure Development Fund (UIDF), we expect infrastructure in tier 2 and tier 3 cities receiving a significant boost,” he mentioned.

Kerala CPI-M and Congress slam Union funds, BJP welcomes it IANS 02 February 2023 Post Your Comments

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