Shashi Tharoor and Priyanka Chaturvedi Criticize Union Budget 2024-25
On July 23, Congress MP Shashi Tharoor called the Union Budget 2024-25 ‘underwhelming’ and criticized it for not addressing key issues facing the common man. Tharoor welcomed the proposal to abolish the angel tax, a suggestion he made to former Finance Minister Arun Jaitley five years ago.
Tharoor stated, ‘It is an underwhelming budget. I didn’t hear anything about the key issues facing the common man. There is no mention of MNREGA, and insufficient mention of steps taken to improve the income of a common person.’ He added that the budget did ‘far too little’ to address income disparity and made only a ‘token gesture’ towards job creation.
Shiv Sena (UBT) MP Priyanka Chaturvedi criticized the budget, saying, ‘I think this budget should be called ‘PM Sarkaar Bachao Yojana’ because they have realized if they want to save this Govt for the next 5 years, they would need their alliance partners to be happy.’ She noted that while Bihar and Andhra Pradesh received funds, Maharashtra was ignored.
Congress MP Karti Chidambaram commented on the political motives behind the budget, acknowledging the inclusion of elements from their manifesto, such as the apprentice scheme. He said, ‘I understand the political compulsions of catering to the demands of their alliance partners from Andhra Pradesh and Bihar.’
The Union Budget 2024-25, presented by Union Finance Minister Nirmala Sitharaman, proposed to abolish the angel tax for all classes of investors. This move is expected to drive more investments towards startups, which are crucial for economic growth and job creation. Angel tax refers to the income tax levied on funding raised by unlisted companies or startups if their valuation exceeds the company’s fair market value.
Doubts Revealed
Shashi Tharoor -: Shashi Tharoor is a Member of Parliament (MP) from the Congress party in India. He is known for his strong opinions and speeches.
Priyanka Chaturvedi -: Priyanka Chaturvedi is a Member of Parliament (MP) from the Shiv Sena party in India. She often speaks about issues affecting Maharashtra.
Union Budget -: The Union Budget is a financial plan presented by the government of India every year. It shows how the government plans to spend money and collect taxes.
2024-25 -: 2024-25 refers to the financial year starting from April 1, 2024, to March 31, 2025.
MNREGA -: MNREGA stands for Mahatma Gandhi National Rural Employment Guarantee Act. It is a program that provides jobs to people in rural areas of India.
income disparity -: Income disparity means the difference in earnings between the rich and the poor. It shows how unevenly money is distributed among people.
angel tax -: Angel tax is a tax on the money that startups receive from investors. It was criticized because it made it harder for new businesses to grow.
Shiv Sena -: Shiv Sena is a political party in India, mainly active in the state of Maharashtra. They often focus on regional issues.
Maharashtra -: Maharashtra is a state in western India. It is known for its capital city, Mumbai, which is the financial hub of the country.
Karti Chidambaram -: Karti Chidambaram is a Member of Parliament (MP) from the Congress party. He is the son of P. Chidambaram, a senior Congress leader.
manifesto -: A manifesto is a public declaration of policies and aims, usually issued by a political party before an election. It tells people what the party plans to do if they win.
